Better Risk Management Lower Cost Insurance

ILM Mission & Background
ILM is a general insurance broker. We only represent corporate clients and obtain lower cost insurance by:

• Assessing optimal levels of risk retention;
• Obtaining the most competitive quotations from leading Irish and international insurance companies;
• Creative use of floating cover and policy reinstatements; consolidation of policies and renewal dates.

ILM’s approach reduces our clients’ incidence of claims by investing savings derived from lower insurance premiums in health & safety initiatives and other risk management solutions.

ILM was established to address lack of competitiveness, efficiency and transparency in availability of liability insurance for the corporate market in Ireland.
In Ireland, ILM is regulated by IFSRA under Section 10 of the Investment Intermediaries Act, 1995 as a Multi-Agency Intermediary (Reference: 34971).

Objectives of ILM’s Approach

Protect against severe and catastrophic losses in a prudent and cost effective manner with a reputable insurer; fulfill all statutory and contractual obligations.

Self-insure expected losses based on ILM’s analysis of:

• The expected increase in retained losses; compared to the premium discount available from prospective insurers in respect of the deductible(s); and
• The risk retention capacity of the company, as assessed by ILM’s diagnostic model.

Reduce incidence of claims by investing proportion of reduction in insurance premiums in health & safety initiatives and other risk management solutions.

Benefits Offered to ILM Clients

Worst case severe or catastrophic losses covered with a reputable insurer;

Lower insurance premiums based on carrying a higher deductible in respect of predictable (“expected”) losses;
Reduce incidence of claims by investing proportion of reduction in insurance premiums in health & safety initiatives and other risk management solutions;

Attractive niche insurance products such as credit risk and product liability cover can be helpful to cover less commonly considered or frequently uninsured risks;

Values / Modus Operandi
ILM is committed to arranging the optimal levels of risk retention and insurance cover consistent with our clients’ risk management & control objectives. We recognise and accept that this will result in ILM earning a lower fee or commission compared to that earned by an incumbent insurance broker.

Transparency
ILM will always provide details of alternate quotations provided, including cost of cover net of our broker’s commission.
ILM is interested to work on a contingency / performance reward basis and in partnership mode with our clients.

Directors

Kenneth O’Reilly-Hyland
Lloyd’s of London Member. Twenty years insurance industry experience working with leading U.K. insurance companies and brokers, including Norwich Union, Minet (now AON) and Stewart Wrightson (now Willis). As a director at Minet, was responsible for international onshore energy & non-marine division, including financial institutions department and facultative reinsurance department. Has advised commercial clients on all aspects of non-life business.

Gréag Purcell
A strong commercial background including technology, health and education. An executive member of numerous boards. A specialist in compliance.

Contact Information

Dublin Office:
18 Merrion Road, Ballsbridge
Dublin 4
Ireland                                                                                                

Telephone
+353 (0)1 6144989