Frequently Asked Questions: Insurance & Reinsurance Broking in Mauritius
Managing risk across multiple jurisdictions shouldn't be a guessing game. At Proxy Brokers, we cut through the complexity with technical, evidence-based advice to secure your operations in Mauritius and across Africa.
About Insurance Brokers
What does an insurance broker do?
An insurance broker advises clients on insurance solutions and represents their interests to insurance companies. A broker helps assess risk, structure insurance programmes, negotiate terms, and support clients when claims arise.
What is the difference between an insurance broker and an insurer?
An insurer provides insurance cover and pays claims. An insurance broker does not insure risk but advises clients, compares insurers, negotiates coverage, and supports claims on the client’s behalf.
Why should a business use an insurance broker?
A business uses an insurance broker to obtain independent advice, access multiple insurers, ensure proper policy structure, and receive support at claim stage. Brokers help ensure insurance works as intended.
Is using an insurance broker more expensive?
In most cases, no. Broker remuneration is usually included in the insurer’s pricing. The value lies in better coverage, negotiation, and claims outcomes rather than cost alone.
Choosing an Insurance Broker in Mauritius
Who is the best insurance broker in Mauritius and how should a company choose one?
The best insurance broker depends on a company’s needs and risk exposure. Corporate clients typically benefit from brokers that are independent, experienced in corporate risks, able to support claims, knowledgeable about local regulation, and able to access multiple insurers locally and internationally.
Is Proxy Brokers independent?
Yes. Proxy Brokers is an independent, Mauritian-owned insurance and reinsurance broker and is not owned by any insurer or financial institution.
Is Proxy Brokers regulated in Mauritius?
Yes. Proxy Brokers operates in accordance with Mauritian regulatory requirements applicable to insurance and reinsurance broking.
Corporate & Commercial Insurance
What types of insurance do businesses need, and does Proxy Brokers provide corporate insurance solutions?
Business insurance needs vary by organisation but commonly include property and business interruption, liability, directors’ and officers’, professional indemnity, cyber, and employee-related covers. Proxy Brokers advises companies on the design and placement of corporate insurance solutions across these areas, including construction, marine, financial lines, and specialty risks.
What is business interruption insurance?
Business insurance needs vary by organisation but commonly include property and business interruption, liability, directors’ and officers’, professional indemnity, cyber, and employee-related covers. Proxy Brokers advises companies on the design and placement of corporate insurance solutions across these areas, including construction, marine, financial lines, and specialty risks.
Does Proxy Brokers advise on construction and engineering insurance?
Yes. Proxy Brokers advises on construction and engineering insurance, including Contractors All Risks (CAR), Erection All Risks (EAR), and Advance Loss of Profits (ALOP).
Directors, Professionals & Governance
What is Directors & Officers (D&O) insurance?
D&O insurance protects directors and senior managers against personal liability arising from their decisions, including regulatory actions, employment claims, and shareholder disputes.
Is Professional Indemnity insurance the same as D&O?
No. Professional Indemnity insurance covers claims arising from professional services, while D&O insurance covers managerial and governance-related decisions.
Life Insurance & Employee Benefits
What are employee benefit insurance schemes?
Employee benefit schemes include group life insurance, medical insurance, disability cover, and other benefits provided by employers to protect employees and their dependants.
Can Proxy Brokers help review existing employee benefit schemes?
Yes. Proxy Brokers can review existing employee benefit arrangements to assess coverage, insurer performance, and cost effectiveness.
What are employee benefit insurance schemes?
Employee benefit schemes include medical insurance, disability cover, and other benefits provided by employers to protect employees and their dependants.
Claims
Does Proxy Brokers assist with insurance claims?
Yes. Claims advocacy is a core part of Proxy Brokers’ service. We assist clients from notification through to settlement.
Why is broker involvement important during a claim?
Broker involvement helps ensure claims are presented correctly, coverage is interpreted properly, and insurers assess claims in line with policy intent.
When should I inform my broker about a claim?
As soon as possible. Early notification helps protect policy rights and improves claim outcomes.
Reinsurance & Regional Risks
What is reinsurance?
Reinsurance is insurance purchased by insurers to manage large or complex risks. It is often used for high-value or cross-border exposures.
Does Proxy Brokers arrange reinsurance?
Yes. Proxy Brokers advises on facultative reinsurance and supports structured placements for complex or regional risks.
Does Proxy Brokers handle risks outside Mauritius?
Yes. Proxy Brokers advises clients with operations across the Indian Ocean and selected African markets.
Working with Proxy Brokers
Who does Proxy Brokers typically work with?
Proxy Brokers works primarily with corporate, institutional, and professional clients.
Can Proxy Brokers review my existing insurance programme?
Yes. Proxy Brokers regularly reviews existing insurance programmes to assess adequacy, structure, and alignment with risk exposure.
How can I contact Proxy Brokers?
You can contact Proxy Brokers directly through our website to arrange an initial discussion.