A large-sized mining enterprise has been using insurance coverage provided by the Polish coinsurance pool for several years. Relatively large loss record contributed to an increase in premium costs in subsequent insurance periods. Additionally, insurance costs grew faster than loss record. Due to unsatisfying results of the following three-year insurance period tender, the Client decided on a short-term extension of coverage in order to arrange the next tender and resolved on analysing alternative solutions. Both, negative results of the tender ( another offer of the pool) and lack of satisfying alternatives resulted in subsequent short-term extension of agreements and cancelling the tender.

The Client had decided to choose a new broker and organised a contest, as a result of which our company was chosen to arrange and complete the whole process of creating final insurance solution. Based on analysis of existing terms and requirements for bidders, we designed new tender terms on behalf of the Client. From among the submitted bids, the offer of the previous pool was chosen and supplemented with our reinsurance component. In the final tender we provided reinsurance solutions which increased the new offer’s attractiveness. The differences between the results of cancelled tenders and the tender arranged with our participation allowed for conclusion of an agreement profitable for each party. Owing to our contribution the Client saved more than 10 million zlotys per year in a three-year agreement period.