Multinational Enterprise Clients

With the rise of technology, the world continues to become increasingly connected. Globalisation has allowed companies to transcend previous geographical limitations and invest in international trade for growth and sustainability.

Doing business in new territories can have its complications – regulatory considerations, cultural differences and local benchmarking. At Honan, we can assist our clients by providing advice on international risk management frameworks as they expand into new pastures – whether it’s local business expanding to overseas markets or international business entering into the Asia Pacific region.

Through our shared ownership of the Worldwide Broker Network (WBN) we have insurance partners in over 100 countries and this allows us to design robust global insurance program which meets local regulations and coverages through Master Controlled Insurance program. A Master Controlled Program offers distinct advantages such as administration and compliance ease, optimisation of financial efficiency and consistent coverage. In additional, Honan can provide a central document station via our on-line collaborative insurance tool.

Controlled Master Programs

Multinational enterprises have particularly complex hurdles when ensuring a robust risk management and insurance framework. A Controlled Master Insurance Program is designed for multinational corporations to consolidate risk management functions to its parent office wherein the coverage terms and conditions apply on a blanket basis to the insured’s worldwide risk exposures.

A Controlled Master Program offers distinct advantages over a patchwork of policies approach which is explored below:

  • The design and negotiation of the program is centralised with one insurer who will subsequently communicate with the other insurers in the other regions where the insured operates
  • Provides ultimate control for Parent Company and ensure ease of mind for its subsidiaries
  • Insurer will work with local insurers to ensure local policy is compliant to local regulations
  • Close insurance gaps with the difference in conditions / difference in limits provision of the master policy while meeting local country requirements.
  • Purchase admitted insurance to gain access to unique insurances that are common in certain countries (e.g., extended products liability and pure financial loss) and existing terrorism pools.
  • Coordinate the purchase of all multinational insurance policies through one carrier to achieve economies of scale that will eliminate duplications and in turn reduce insurance costs.
  • Ensure subrogation benefits by purchasing local insurance as many countries require admitted insurance in order to subrogate a loss.  This can potentially lower insurance costs.
  • Manage claims consistently with worldwide claims coordination. A Controlled Master Program streamlines settlements by having the same insurer handle admitted and non-admitted claims.
  • Extend loss prevention programs and business practices with worldwide loss control coordination.


Structuring a compliant Master Controlled Program is rarely simple. Unless certain conditions are met, many countries do not allow companies or persons operating within their borders to purchase coverage for local risks from insurers that are not legally established in those jurisdictions. Other countries may allow the purchase of insurance from so-called “non-admitted insurers,” but impose significant taxes (or other restrictions) on those who take advantage of the privilege. Therefore it is imperative to partner up with experienced brokers when designing Master Controlled Programs, to warrant a compliant and robust risk management framework.