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Chemicals & Petrochemicals

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Risks and insurance in Chemicals and Petrochemicals Sector

Horiens has solid experience in structuring and managing global risk and insurance programs for the chemical and petrochemical industry.

With complex and sophisticated operations in a considerably dynamic market, the chemical and petrochemical industry is exposed to diverse high-impact risks. Our global risk and insurance solutions to cover people, liabilities, the environment, assets in operations, project/construction transportation (logistics) as well as operations with captive insurance/reinsurance companies and structuring of insurance programs for Project Financed-projects.

This specialized market knowledge, attained with over more than 20 years of experience in this sector, together with a long-standing relationship with the main insurance and reinsurance players, uniquely qualify us to identify, analyze, and transfer risks found in this segment.

  • Consultative mapping of points of attention carried out in operations for analysis and recommendations of improvements for risk rating and mitigation of material and financial losses.

  • Structuring of risk and insurance programs based on specialized knowledge of the market.

  • Cyber Insurance provides protection against damages to third parties and to the insured party itself, arising from cyber breaches and attacks. Indemnities include coverages related to business interruption, asset and data recovery, privacy breach, extortion, defense and conviction, and regulatory process sanctions and penalties (LGPD/GDPR), among others.

  • D&O (Directors and Officers Liability Insurance) is aimed at protecting the assets of executives.

    This is a Directors and Officers Liability Insurance, purchased by a legal entity, with the aim of protecting the assets of its executives when they are held personally liable, either judicially or administratively, for decisions that have caused unintentional harm (bodily injury, property damage, or reputational damage) to third parties.

Learn about our expertise in diverse industrial segments.

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Other coverages and applicable products:

Operating Risks – Material Damages and Loss of Profits

People (Health, Life, Travel, Worker’s Compensation and others)

General, Product and Construction Work Liabilities

Directors and Officers Liability “D&O”

Export and Domestic Credit

Domestic & International Transportation

Carrier’s General Liability

Delay in Start-Up Coverage (DSU)

General Shipowner Liability “P&I”

Engineering Risks

Surety (Judicial, Payment)

Terrorism

Aviation

Vehicle Fleet

Successful Cases

Differentiated performance in the chemical and petrochemical sector

Differentiated performance in the chemical and petrochemical sector

  • Client
    Leading company in the production of thermoplastic resins in the Americas
  • The challenge:
    Considering aspects such as the scenario of the alternation of cycles in the international market of chemical and petrochemical products and the consequent volatility of the insurance and reinsurance capacity, the search for alternatives to expand the lines of protection and competitive cost for the Risk transfer are key elements in the client's business strategy.
  • Como solucionamos?
    Modeling of the global structure of the client's risk and insurance program, allowing the association of the company with the mutual insurance / reinsurance company OIL Insurance Ltda. (OIL), with perception and validation of the expected benefits and competitive response of the commercial market . The project, implemented in 2018, made the company the first in Latin America to partner with OIL.
Data science and technology for health insurance portfolio optimization

Data science and technology for health insurance portfolio optimization

  • Client
    Novonor Group Companies
  • The challenge:
    Pricing health insurance is a complex challenge and involves a number of risks for companies. What can we do to improve the relationship between risk and return? This was the central issue of the solution developed by Horiens considering policies with 80 thousand insured members and a scenario in which Health Insurance represents about 20% of the companies’ payroll.
  • Como solucionamos?
    Using statistical modeling and technology applied to proprietary health portfolio data, we build models of the frequency of insurance usage as well as the severity tied to usage. Predictive analysis allowed the implementation of improvements and bringing more information to the negotiation and generating value for the customer.
PrevSeguro: innovation in the personal insurance market

PrevSeguro: innovation in the personal insurance market

  • Client
    Companies sponsoring the Vexty Pension Plan
  • The challenge:
    Propose ways to expand adherence to the Vexty Complementary Pension Plan and, at the same time, offer an increasingly differentiated benefit to employees.
  • Como solucionamos?
    We create a new product on the market, in collaboration with SulAmérica and Vexty. This is PrevSeguro, an innovative and free life insurance benefit for all beneficiaries of the Vexty Plan. The insurance guarantees, in the event of death or disability before the age of 65, the amount necessary to supplement the pension reserve that the member would form upon reaching that age.

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