vida SR brochure

Our brokerage is completely independent and has no links with any other financial organization. We are endorsed by over 60 years’ experience. We represent customer’s interests with insurance companies, placing our resources and services at their disposal.

vida SR  complies with Law 9/1992 of 30 April on Private Insurance Mediation (OSG of 2 May) and is registered in the Special Register of the General Insurance Directorate (Spanish Ministry of Economy and Finance) under number J-203. Our offices are located in Madrid and we operate throughout Spain. We also offer services in UK, Portugal and North/Central America by means of correspondent agreements with local brokers.

With more than €6 million in premiums and over 2000 customers, we are amongst Spain’s 5% of largest brokers. We are independent brokers and risk management consultants offering insurance services.

vida SR  will provide account development at the end of each one-year term, requesting any modifications that need to be made and at the beginning of the one-year term will describe the service which will be provided. A feature of our customer relations is clear, straightforward and constant communication. We advise customers on implementation of risk management techniques to minimize possible financial and personal losses. The experience we have acquired through our customer quality and quantity enables us to offer them the most up-to-the-minute products, systems and methods for risk management.

vida SR  offers its staff ongoing training to ensure that they have up-to-date knowledge of covers and new products, and improved customer communication and relations skills. We are committed to finding the solutions which best meet customer requirements as quickly as possible and keep them informed at all times of any developments.

vida SR  will not receive any economic payment which differs from that agreed with any insurer for customer risk placement.

vida SR  appreciates information from customers for improving our services. You may make claims or complaints regarding the services offered for both insurance policy brokerage advice and services for the aforementioned brokerage, in accordance with article 44 of Law 26/2006 of 17 July, by calling our Customer Services Department on telephone number (+34) 914 237 093.

Risk Consulting and Contracting

Risk assessment and management and evaluation of insurance policies, studying customer requirements, researching and analyzing available options on the insurance market and selecting the best terms. We use our professional judgment to recommend the most suitable insurance. Our aim is to get the best terms at a reasonable price from leading, reliable insurance companies.

Insurance programs for companies and finding the necessary cover in the insurance market. Design of special covers, including drafting of clauses that a policy may need for best risk underwriting.

Checking documentation submitted by insurance companies, to see if it matches what has been requested. We keep a personalized documentation file for all our customers.

Updating of policies taken, we fulfill the administrative requirements specified in the contract to ensure that it is fully effective.

Yearly renewal and optimization of contracts.

Review and inspection of customer risks on an ongoing basis. We keep up to date with new market events and legal requirements so that the insurance contracted is likewise always up to date. Our aim is to ensure that policies are renewed with the best terms each year.

Industrial Prevention and Protection Studies.

Economy: our fees are included in the price of the insurance, so are not an additional cost for the insured party. We may also agree annual fees instead.

Claims

Claims processing, advising the customer and dealing with the insurance company on their behalf. We keep a record of files so that they can be processed quickly and efficiently, and track the claim throughout the process.

Support for claims settlement through our negotiating skills and technical knowledge. During the claims settlement process and in the event of dispute between the insurance company and the customer, we mediate between both parties and advice the customer so that they may obtain the most favorable settlement as quickly as possible.

We work with and maintain continuous, flexible relations with the leading insurance companies active in the Spanish insurance market. We contract any insurance product available on the market if our customers require it. We also design specific covers for policies with special features due to volume or other reasons. Amongst the types we currently contract are:

Property & Casualty: Asset Damages Insurance for Companies and Individuals.
Multi-risk: Companies, Industries, Business, Household, etc.
Transport: Hulls, Goods, Transport Agencies, Leisure boats.
Engineering: Construction (Comprehensive, Ten Year), Plant Breakage, etc.
General Liability: Professional, Employers, Products, Director & Officers,…
Automobile: Individual and Company fleet.
Health: Individual and Group.
Life and Accident: Individual, Group, Pension Plans, Retirement and Savings Plans,
Externalised Pension Plan obligations, etc.
Surety
Travel Assistance
Pension & Investment Funds

Customers

Our customers are primarily based in Madrid, although we provide service throughout Spain given that companies who are customers of ours operate nationally and have risks spread across the country. We have private customers, small and medium-sized enterprises and large companies, and also multinationals.

One of our defining features is the personalized, tailored service we offer our customers. Being a medium-sized broker enables us to know each of our customers very well. Our customer portfolio includes a wide range of activities and sectors:

Goods transport
Shipping
Maritime Terminals
Foodstuffs and Raw Materials
Cogeneration Plants
Solar Energy Plants
Real Estate Construction and Development
Temporary Employment and Services
Agriculture

Human Resources

We have a professional team which is constantly up to date with all technical and economic areas and in permanent contact with the insurance market so that our customers can be offered the covers which best meet their requirements and interests.

José Miguel Martín
PROPERTY, GENERAL LIABILITY
Luis Vida Giménez
PROPERTY, GENERAL LIABILITY,
LIFE & ACCIDENT/HEALTH
Paz González / Sergio Rodríguez
PROPERTY, GENERAL LIABILITY
SMALL AND MEDIUM-SIZED ENTERPRISES
Isabel Ricote
CLAIMS

Actuarial and Financial Consulting

We offer full consulting services in all aspects of company pension plans.

1. ACTUARIAL CONSULTING

• Pension Commitments: calculations and plan management.
• Retirements and pre-retirements. Workforce reductions.
• Labor negotiations. Flexible remuneration. Mergers and acquisitions.
• National and international pensions accounting. Spanish National Accounting Plan, IAS 19, FAS 87, FRS 17. Valuations of employee benefits plans and pension plans for determination of contribution for Spanish external funding and for liability/accounting according to PGC, IAS 19, US GAAP, IFRS 17. Compliance with HQ procedures and information requirements.
• Independent expert: Reports. Expert witness.

International business: Life, accident, pre-retirement, qualified non-insured, qualified insured plans and non-qualified plans

Human Resource Departments: Support in all employee benefits áreas

• Analysis of the employee group
• Plan design taking into account market practice, legislation and company philosophy. Methods and assumptions.
• Costs of plan designs.
• Plan implementation. Communication of plan to employees.
• Investment strategy and financing vehicle options.
• Tax aspects.
• Selection of plan vehicle and plan provider company (bank or insurance company or subsidiary).
• Continuous monitoring and annual regularizations.

2. PLAN MANAGEMENT (Administration and Support)

• Pension plans and pension commitments.
• Personal insurances: Life, Health, Disability, Accidents.

3. INSURANCE MANAGEMENT

• Qualified insured and non-insured pension plans.
• Non-qualified insured and non-insured plans.
• Life insurance, Health, Disability, Accidents.
• External funding requirement for company commitments.
• Analysis of the employee group and the employee benefits / pension plan.
• Monitoring of the pension vehicle or insurance policy and communications with the providing company.
• Annual determination of amounts to be insured and negotiation of the premiums and conditions of the insurance.
• Communications to employees.
• Monitoring of investment policy and suggestions for changes, if appropriate.
• Claims handling.

Confidentiality

We will not disclose any information on your activity which is considered confidential. However, on the occasions when information is considered essential for covering the necessary risks, we shall be obliged to submit insurers or other acting parties with certain information on your activity. Any sensitive information will be treated in the correct manner and shall not be disclosed without your consent.

Our remuneration

In accordance with normal market practice, our fees are received from the insurers unless otherwise agreed with you.