Our Services
REINSURANCE BROKING (LIFE & NON-LIFE)
FACULTATIVE REINSURANCE
The Facultative Reinsurance services offered by MB Boda, pave the way for continuous connectivity with insurers in ensuring acceptance of risks in growing environment, even while limiting excessive volatility from individual Policy Coverage. Our smartly interwoven network allows for a smooth experience, with custom-built solutions for each such risk.
Property / Engineering
Mega Package Policies
Industrial All-Risk Policies
Erection All-Risks Insurance
Contractors All-Risks Insurance (CAR)
Marine-Cum-Erection Insurance
ALOP & DSU
Boiler Insurance/DOS
Marine (Hull & Cargo)
Bulk / Project / Oil & Other Cargos
Rejection Insurance
Hull & Machinery Insurance
Protection & Indemnity Insurance
Marine Liabilities: Charterers, Stevedores, Ship Owners, Freight Forwarders, etc
Specialty Lines
Fine Arts & Specie
Terrorism & Political Violence
Jewellers Block & Terrorism
Cyber Insurance
Event Insurance
Kidnap & Ransom
Travel Insurance
Casualty and Financial Lines
Directors & Officers Liability
Professional Indemnity
Tech Errors & Omissions
Commercial General Liability
Public & Product Liability with recall
Aviation & Aerospace
Hull All / Hull War Risks
Combined Single Limit
Hull Deductible
Excess War Liability
Aviation Liabilities: Products, Premises, Hanger Keepers, Ground Handlers, Refuellers, Airport Operators
Aviation PA & LOL
Satellite Insurance
Life and Accident & Health
Our focused approach and ability to deliver innovative, cost-effective solutions have led to continuous annual growth and success. Our business is focused on developing successful partnerships with our clients. We use all of our resources, team, experience and relationships to deliver our clients outstanding results.
Lines of Businesses:
Death any Cause; includes Accelerated Benefits
Natural Death Only Cover
Personal Accident; includes the Following Benefits/Riders
• Temporary Total Disability
• Permanent Total Disability
• Permanent Partial Disability
• Medical Expenses following an Accident
• Body Repatriation
Decreasing Term
Level Term
Critical Illness
TREATY REINSURANCE
A ‘treaty reinsurance’ is a type of reinsurance where an insurer (referred to as the ceding company) enters into an agreement with one or more reinsurers in order to cede to them a portfolio of risks, as defined in the respective reinsurance agreement or treaty. In such an agreement, the ceding company agrees to cede and the reinsurers agree to accept all the risks written by the ceding company that fall within the terms of the treaty, subject to the limits specified therein. Treaty reinsurances can be in the form of either proportional or non-proportional treaty reinsurance. In simple terms, the proportional treaties are intended to provide capacity while the non-proportional ones are designed to protect the risks retained by the reinsured entity. The most common forms of proportional treaties include Quota Share, Surplus and Facultative Obligatory treaties. For non-proportional types, the principal types include Risk Excess of Loss, Catastrophe Excess of Loss and Aggregate Excess of Loss treaties.
TYPES OF REINSURANCE
OBLIGATORY
Primary Insurer & reinsurer enter into an agreement for an entire portfolio of risks
The primary insurer is obligated to cede all business under the terms & conditions of the treaty
The reinsurer is obligated to accept all risks ceded by the reinsured
The terms and conditions as described in the contract schedule and wording
FACULTATIVE
Primary Insurer has the option
of ceding a risk
Reinsurer has the option to accept or to decline
Each risk is considered individually
Terms and conditions are negotiated individually per risk ceded
To successfully navigate and negotiate reinsurance treaties, you need a partner you can really trust.
At M. B.Boda, we deliver exceptional transparency and cooperation, building strategies that focus on our clients’ key objectives. We even provide solutions for stop-loss cover, retrocession, and excess of loss coverage.
Our treaty reinsurance services cover the following lines:
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Property
Engineering
Motor
Liabilities
Medical
Marine Hull
Marine Cargo
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Life
Agricultural Insurance
Aviation
Energy
Credit Insurance
Miscellaneous Coverage
All these services can be provided on excess of loss or proportional basis as below:
Proportional
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Quota Share
Surplus Treaty
Quota Share-Cum-Surplus
Facultative Obligatory Treaty
Multiline Proportional
Non-Proportional
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Net Account XL
Whole Account XL
Marine Excess of Loss
Aviation Excess of Loss
Stop-Loss Covers for Specialty Classes
Pure Facultative Excess of Loss Cover
Liability Treaties – Proportional & Non-Proportional
Marine & Energy Excess of Loss
CAT MODELLING SERVICES
Cat Modelling is a computerized process that simulates potential catastrophic events and estimates the amount of loss due to the events that includes information about hazards and vulnerabilities of a location, as well as, policy details, is used to compute insured losses due to a natural peril. Currently, Cat Modelling is a prevalent practice in the global insurance and reinsurance industry to calculate losses for events such as earthquakes, cyclones, and floods.
M. B. BODA remains in touch with various modelling companies through in-person meetings as well as webinars to know their products as well as to keep them updated about the prevalent practices in the industry. Currently, we have business relationships with all lead modellers and can carry out Cat Modelling for our clients located in different geographical territories.
M. B. BODA has been carrying out Cat Modelling for clients since a few years now. Clients provide well distributed exposure data and exposure assumptions and treaty structures. We verify those and subsequently carry out Cat Modelling using a prevalent model. Based on these loss numbers, we assist in designing the reinsurance programme of the clients.
CLAIMS MANAGEMENT
At M.B. Boda, a team of highly specialized experts is always on the ball to assist our clients, by recommending loss adjusters, negotiating in the best interest of all parties, mediating and arbitrating the cause of the loss or its quantum, and controlling the collection process.
Our dedicated and experienced Claims team provides advice and guidance aimed at making the settlement process as smooth as possible. As your Claims handling partner, we can guide you safely through the process.
Value-added Services:
Updating cedants on specialized products available in international markets viz. customized liability, policies, specie insurance and financial line insurances
Structuring bespoke reinsurance programmes
Updating Indian cedants about political & geographical development in different parts of the world
Protecting the interests of our clients in case of any unfortunate situations is our utmost priority
Connect with us...
M.B. BODA REINSURANCE BROKERS PVT. LTD.
134/136, 13th Floor, C-Wing, Mittal Court,
Nariman Point, Mumbai - 400021. INDIA.
Disclaimer: Every licensed reinsurance broker shall display, in all their correspondences with all stakeholders, their name registered with the Authority, address of the Registered and Corporate Office, IRDA license number, the category for which the insurance broker is licensed, the validity period of the license. Insurance brokers are not permitted to use any other name in their correspondence / literature / letterheads without the prior approval of the Authority.
