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Al Mulla Insurance & Reinsurance Broking Co WLL (ID: 4001)
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As one of the world's leading independent insurance and reinsurance brokers, our approach is simple yet refreshingly different. We listen to our clients, analyse and understand their requirements and provide leading-edge risk solutions. Why? Because we know that's the only way to really focus on their priorities. We build real partnerships with our clients. And, because we don't accept pre-packaged solutions in our business, we don't expect you to either. Instead we harness the expertise and imagination of our people to deliver the cost-effective, innovative answers you need. The result is an outstanding, proactive service. This website provides an overview of the Group's capabilities. If you have a specific requirement not included here, please contact us. Our traditions are founded on over a century of experience as a City of London broker. Yet we recognise that our future lies in embracing new technologies and developing new and creative risk transfer services for our clients. Our size provides access to the whole spectrum of insurance markets. Our structure guarantees the involvement of our most senior managers. From a global network of offices, we deliver local service, through local businesses. And, because we really understand the markets and cultures we work in, we don't impose centralised solutions. We're big enough to deliver but not so big that we become complacent. Fact File Seventh largest insurance and reinsurance broker in the world 4000 staff in over 100 offices in 43 countries world wide Our head office is based in London with a key administration site over 600 strong in Swindon and a branch network throughout the UK Annual turnover ?304 million We produce a number of publications and technical documents, which can be downloaded from this site or ordered on-line. Please select the publication(s) you require and complete the relevant details. Document requests can be submitted simultaneously by checking the box next to each publication, as such there is no need to submit a separate form for each document. Heath Lambert Group is one of the world's leading insurance and reinsurance brokers and the largest independent broker in the UK. Our prime focus is on building partnerships with our clients and so we harness the expertise and imagination of our people to deliver the cost-effective and innovative answers you need. This means that whether you are an established business looking for a new insurance perspective; a start-up enterprise wishing to put in place the most cost-effective protection; an organisation or affinity group developing a programme for its members or employees; or an individual seeking independent advice - we offer the distinctive approach you require. Please select an Area of Operation from the left hand menu for further information and details of who to contact to discuss your individual requirements. Whether you require protection for your premises, stock and equipment, liability insurance or any of a host of specialist services or protection, Heath Lambert can help. We offer a complete service to businesses that embraces all aspects of commercial insurance and risk management, from risk assessment, through the implementation of cost effective programmes, to the day-to-day administration of our clients' requirements. From protection for a small or start-up enterprise, through to a complex programme for a multi-national enterprise, we have the expertise and in-depth resources to provide the top quality, responsive service you require. In addition, HLA Global (www.hlaglobal.com) brings together Heath Lambert Group subsidiaries and strong broking partners in countries throughout the world, in a proactive network of equal partners, which has been designed to offer significant advantages to clients with cross border broking requirements. Whether you require protection for your premises, stock and equipment, liability insurance or any of a host of specialist services or protection, Heath Lambert can help. We offer a complete service to businesses that embraces all aspects of commercial insurance and risk management, from risk assessment, through the implementation of cost effective programmes, to the day-to-day administration of our clients' requirements. From protection for a small or start-up enterprise, through to a complex programme for a multi-national enterprise, we have the expertise and in-depth resources to provide the top quality, responsive service you require. In addition, HLA Global (www.hlaglobal.com) brings together Heath Lambert Group subsidiaries and strong broking partners in countries throughout the world, in a proactive network of equal partners, which has been designed to offer significant advantages to clients with cross border broking requirements. Heath Lambert Entertainment Division is the specialist division within The Heath Lambert Group that recognises and understands the needs and insurance requirements of the entertainment industry. We have established relationships with many of the media and broadcast companies by development of programs that offers wide coverage with packaging to maximum buying power. There are many standard policy form available in the market, but we pride ourselves in the ability to tailor polices to address the specific exposure. For a more detailed summary including Proposal Forms and draft Policy Wordings please contact us. Our aim is to create strong long-term business relationships with clients and insurers alike. It being paramount that all involved parties fully understand each other's business needs. Continued development of product and insurance market is essential for us to compete in the global arena of the entertainment industry. The following are examples of the types of coverage that we currently place on behalf of our clients on a World-wide basis: Exhibition and Event Insurance Prize Indemnity Contractual Bonus Advertising Agents and Commercial Producers Indemnity All Risks Film Negative and Computer Data Equipment Insurance Errors and Omissions Weather Insurance Death, Accident and Disgrace Confidential Life Heath Lambert is one of the world's largest Marine insurance and reinsurance brokers. With such a substantial representation within the insurance industry, we offer a broad and diverse range of products to our clients as well strength in negotiations with insurers due to the size of our portfolio. We pride ourselves not only on providing a fast and efficient service for our Multi-National clients but also for single vessel owners, who may be in need of that personal touch. Our independence is your strength. Under the requirements of the Oil Pollution Act 1990 (OPA 90) all vessels, with the exception of vessels of 300 gross tons or less and dumb barges that carry neither oil or hazardous substances, trading in US Waters are required to have a Certificate of Financial Responsibility (Water Pollution.) This includes any tanker or foreign flag vessel that trans-ships or lighters oil within the United States economic zone where the destination of the oil is a place within the US jurisdiction. Amounts of Financial Responsibility The extent of a vessel's financial responsibility, which must be evidenced is: OPA 90 1. Tank Vessels: Over 300 gross tons but not exceeding 3,000 gross tons, the greater of US$2,000,000 or US$1,200 per gross ton in excess of 3,000 gross tons, the greater of $10,000,000 or US$1,200 per gross ton. 2. All Other Vessels: For all other vessels other than tank vessels, over 300 gross tons the greater of US$500,000 or US$600 per gross ton. Cercla: For vessels over 300 gross tons carrying a hazardous substance as a cargo the greater of US$5,000,000 or US$300 per gross ton For any other vessel over 300 gross tons, the greater of $500,000 or US$300 per gross ton. Establishing Financial Responsibility Apart from self insurance or providing a Surety Bond the only way to establish Financial Responsibility is via Insurance. A number of Insurers have emerged providing a guarantee to the US Coast Guard for the level of Financial Responsibility required. All are US Coast Guard approved. They are: Shipowner's Insurance and Guaranty Company Ltd. (SIGCo) SIGCo began operation in December 1996. SIGCo is the largest Guarantor in the commercial marketplace, and when combined with its predecessor First Line, commands approximately 60% of all COFR business. The facility has a fixed cost structure, which means that clients will not be subjected to additional calls in the event of un-recovered claims. SIGCo has a facility of up to US$400m. SIGCo is a limited liability company, with a capital base of US$25,001,000. The intention is to transfer the ownership to Shipowner clients through a Trust arrangement. SIGCo will obtain or renew a COFR for a client at no additional charge (some conditions apply). Shoreline Shoreline commenced operation in December 1994. The only Mutual Facility, although supplementary calls have been eliminated. Minimum documentation requirements. Arvak Minimum documentation requirements. Shoreline Mutual Management (Bermuda) Ltd took over the management of Arvak early 1998. Fixed Cost COFR provider. Accepts BMM, JLJ, Dragon and Southern Seas entered vessels in addition to the Mutual P&I Clubs. Marine Pollution Insurance Services Provide Guarantees for vessels placed with some of the fixed premium facilities. Guarantees are limited to Dry vessels of up to 16,600GT. Obtaining a COFR Please do not hesitate to contact us. We will be delighted to approach the best insurer on your behalf and obtain the certification.As the World's economy grows so do the, often unique, financial challenges and exposures of today's vessel owners and managers. Simple Hull policies are quickly becoming a thing of the past. Now owners and managers regularly face the perils of loss of income and over-the-side equipment loss along with numerous other potential losses. As one of the World's leading Hull brokers, Heath Lambert is able to negotiate those specific terms and conditions that are unique to an owner or manager. We also have access to every major Hull insurer in the world. Our market covers London and Europe, Scandinavia, Asia and the Americas. Listed below are some of the facilities and coverages that we have available for our clients: Increased Value Additional amount allowed by H&M etc. Underwriters to cover Disbursements etc Premium Reducing Costs of insurance premium that remain payable after a total loss Voyage/Tow (including break up) Physical loss or damage during the voyage/tow (including collision liabilities) Lay up Port risks Physical loss or damage and limited P&I whilst vessel is laid up Freight - annual or per voyage Loss of freight after a partial or total loss Bunkers Loss of bunkers after a partial or total loss including General Average, Salvage and Salvage Charges War Loss to H&M occurring as a result of war, terrorism act etc Blocking & Trapping The trapping or blocking of the insured vessel resulting from closure of canals, passageways etc Political Risks Physical or financial loss occurring as a result of political or governmental acts etc Loss of Hire Loss of income as a result of vessel being damaged and thus unable to navigate due to a marine peril excluding total loss of vessel Consequential Loss Loss of anticipated profit following marine perils Passage Money Cover for loss of expected revenue of a vessel by way of passage money, following partial or total loss Drugs Delay following Confiscation Loss of income whilst vessel has been arrested following drugs seizure Strike Insurance including delay coverage (Crew and Port Strikes) Daily running costs during delays caused during or after a strike Seller/Buyer Cancellation and/or delay Cover for cancellation of a sale/purchase contract by reason of vessel being unable to meet the cancelling date by reason of a peril insured under a marine policy What was once undoubtedly a market for straightforward Charterers and Wharfingers Liabilities has now grown into a huge and diverse collection of insurers and policies, often bespoke in nature, reflecting liabilities to third parties. The Heath Lambert Liability Team has some of the insurance market's broadest experience in this field willing to assist in any way that they can. Some of the coverages available are: Charterers P & I / F D & D Liabilities and legal cost of the Charterer Charterers Damage to Hull Hull liabilities under the Charter Party Contractual Liability Liabilities arising out of a contract Primary/Excess Pollution Pollution liabilities - immediate or excess of the amount covered by vessels' P&I Club Ship repairers/Ship builders Damage to vessel in the insured's care and custody and control and associated liabilities Terminal Operators including Pollution Importers and exporters of bulk and liquid cargos Wharfingers Coverage for berthing vessels in their care and custody and control Marina Operators Including physical damage to the marina and resulting liabilities Marine Contractors Liabilities arising out of construction and/or repairs of jetties, break water, piles etc Maritime Employer's Liability Often excess of a small retention Stevedores Liabilities Liability arising out of the loading and unloading of vessels Custom Policies Whatever the liability is faced we will find a market for it. At Heath Lambert Marine Reinsurance we offer a dedicated capability to meet the ever-changing demands of our wide and varied client base. We believe that only by listening to our clients that we can satisfy their needs. It is no longer sufficient to stand still in the rapidly changing arena of reinsurance and our ability to tailor products to suit the individual means that innovative solutions keep our clients one step ahead. Our existing clients range from small "start-up" operations to major players. Both our client base and marketing ability is extensive - our collective experience means we conduct business from all parts of the globe including Scandinavia, various European countries, the Middle East, Africa, Far East, USA and Bermuda. Our business is therefore diversified; a tribute to Heath Lambert as a recognised and experienced independent broker. The size of the Marine Reinsurance Division (17 people) means that the service we provide is efficient and personal - a formula that has resulted in strong continuity amongst our clients where relationships have been nurtured and cemented over three decades. A contented client is our priority. Heath Lambert is proud to be one of the world's leading Ports and Terminals Brokers and has an extensive list of clients, ranging from small local facilities to large international ports. We carry a large following in the Insurance Markets both in London and abroad and have access to a number of facilities offering very broad coverage at competitive prices. To assist we would offer the following outline of the services available in these packages: Covers Third party property damage as well as bodily injury includes: Cross liabilities, actions over, contractual, removal of wreck Can be extended to include - Fire legal, infringement of personal rights, advice and information (Professional), fines and duty, wrongful delivery of cargo Property damage includes: Fire fighting expenses, automatic acquisitions, strikes and riots Can be extended to include - Earthquake and terrorism Damage to handling equipment includes: Strikes and riots, daily lease costs, fire fighting, automatic acquisition Can be extended to include - Earthquake and terrorism Business interruption for: Property Handling equipment Blockage of facility Can be extended to include - Terrorism Hull & Machinery Includes: Port risks or full navigating, dry docks, protection and indemnity (P&I) Can be extended to include - Terrorism General: Limit automatically available up to US$ 50,000,000 with further excess limits readily available if required Includes sudden and accidental pollution Automatic coverage for additional assureds and provision for waivers of subrogation is available Quotes available within 24 hours Multi-year policies available Coverage can be tailored to fit specific requirements Direct or as reinsurance At Heath Lambert we handle the P&I insurance needs of a world wide shipping portfolio of over 35 million gross tonnes. The P&I Division is the largest in London and represents ship owners in five continents. It devotes particular attention to providing an outstanding service and an original approach to the increasingly complex field of P&I. Over the last few years the mutual Clubs have faced challenging new fixed P&I premium facilities. Through our experience we have achieved success in negotiating exceedingly competitive P&I premiums within the P&I market place. The speed of change in the P&I market over the past four years has been greater than in the last four decades. For the first time mutual Clubs have merged, thereby creating fewer Clubs overall. In addition, some Clubs have now created Hull and Machinery partnerships, offering "one stop shopping" to their members. In view of the ever increasing complex issues relating to P&I, more ship owners than ever before require the "eyes and ears" in London to get them through the minefield of P&I options. Heath Lambert is therefore proud of the one to one relationships it has with all of its ship owning clients to ensure their needs are fully met. Over the last few years, the P&I insurers have established open competition on P&I premiums and ship owners now enjoy the same level of competition for P&I as that seen for Hull and Machinery. Whilst low P&I premiums are essential to a ship owner's needs to trade the ships competitively we ensure that the financial strengths of the P&I insurer is solid. As brokers, we review each insurer on an annual basis to ensure an unbiased appraisal of strengths and weaknesses are given. The SMI product has gained Heath Lambert Group an award as the most innovative idea for 1999, by Transport Finance Magazine. At Heath Lambert Marine Financial Risks (MFR), our understanding and insight into the difficulties shipowners were encountering in financing the purchase of vessels led us to develop Ship Mortgage Indemnity (SMI) as an innovative way of providing an answer to the lender's problems and the ship owner's needs. To date we have been directly involved in several transactions with financial institutions where SMI was made available and financing was concluded (MFR has in the pipeline transactions in excess of USD 3 billion where SMI could be typically 20% of that figure). MFR (with intimate knowledge of the market) is not aware of any other Insurance Broker that has concluded SMI type transactions. Ship Mortgage Indemnity (SMI) transactions range across the whole spectrum of vessel types including VLCCs, FPSOs, Suezmaxs, Car Carriers, ProBos, Semi-Submersibles, Container Ships, Bulkers and Passenger Cruisers. Used where the total financing desired is 85% loan to market value of the vessel and where the SMI covers the 65% to 85% portion of the loan. Transaction size tends to be not less than USD15MM, where the SMI is 20% or USD3MM. Certain transactions see SMI at USD60MM which at 20% means a transaction of USD300MM. Ships not more than 10 years old Period of SMI range between 3, 5 or 7 years. The typical loan period is 10years with a 12 or 15 year loan profile. There is a wide geographical spread, in terms of the location of the SMI Policyholder (normally a specialist bank) and the borrower. In broad terms, there is a tendency to conclude more transactions where the SMI Policyholder is in Western and Northern Europe and North America. However, there is a growing incidence of transactions where the SMI Policyholder is located in Singapore or Hong Kong. SMI is used where there is a specific long term 'good name' charter but it is also used where the borrower was generating cash flow sufficient to service debt from other forms of ship operation and trading. Transactions tend to be 'vessel specific' but there have also been transactions for multiple vessels and fleets. SMI can also address fleet refinancing and bank portfolio securitisation. SMI addresses Asset Collateralised Bonds. In certain circumstances, rather than SMI, a transaction can be better served by Residual Value Insurance (RVI). Marine Financial Risks has developed RVI to address the 'balloon' at the end of the loan period. Pure RVI is also developed. In both cases the underwriter does not share in any market value upside at the RVI point. As one of the world's leading independent insurance and reinsurance brokers, our approach is simple yet refreshingly different. Al Mulla Insurance & Reinsurance Broking Co WLL