Reduce Risks By Pooling Your Business
Intending to bring in Underwriting efficiency, W-Safe established a "World declined risk pool", where our partnered insurance companies can offer cover to even high-risk clients without impacting their capital. All declined risks worldwide will be quoted under W-Safe Decline Pool.
Through the exchange of quality information, expertise and encouraging business relations, we aim to enhance cooperation among insurance and reinsurance companies across the Middle East, UK, Asia and Africa. We set out to establish a declined risk pool to accelerate the process of achieving improved self-reliance in insurance and reinsurance through cooperation.
W-Safe wishes to offer an additional underwriting capacity to its pool members, allowing them to attain the same standard of reinsurance service observed in the international market.
Any member willing to offer a share of their treaties is eligible to be a member of the declined risk pool administered by W-Safe. However, you will only be acknowledged as a complete member if you enter a mutual business exchange with other members.
As a member, you will have to segregate funds on account of the declined risk pool business in your account and invest them according to pool regulations. The premium for the third-party Pool gets reviewed annually. And the funds transferred between the members will be through a pooling mechanism based on the net amount.
Rest assured that all the capital handed over to the Pool will be reciprocated completely to its members. However, for individual members, high premiums, persistent profitability, and decent cash flow may result in more than a hundred percent reciprocity.