Tunstall Associates has led the design and improvement of some of the largest insurance programmes in Asia. With considerable expertise in matching risks against coverage and unparallelled exposure in the Asian and European markets Tunstall Associates can make substantial improvements to coverage and quality whilst usually driving down costs by 10 to 15% in the first year. Where we make a real and unique differance is by positioning ourselves with the corporation. Working hand in hand with your broking team we build a genuine market relationship built on quality information, genuine sharing of risk issues and mutual respect. With experience in every major market sector you can rely on us to deliver a programme that works. That means in the event you claim – you get paid.
Examples include: Management of a major airline programme covering 45 office jurisdictions and over 150 destinations. The hull and liability programme being fifth largest in the world and the largest globally for a cargo carrier within a traditional airline structure. Placement of fifteen lines over a five year period with diverse global markets and multiple claim management issues. Placement of the second largest property risk in Singapore (after Changi Airport). Management of 26 extremely varied lines under an overall programme. Assets including casino, 6 hotels, aquarium and attractions park.
Management and advice in respect of a global programme for a USD20billion turnover agri and commodity company with operations in over 100 jurisdictions.
Led and improved major insurance programmes for several large Asian conglomerates including programme, broker and leader reviews, management of major placements and resolution of claims.
As insurance markets harden and capacity for challenging risks continues to shrink, shrewd insurance managers are turning to captives as a more effective method to manage their risks, engage effectively with existing and new markets, and provide additional support for key corporate risks. Tunstall Associates has been involved in the establishment, growth and ongoing management of captives around the world in jurisdictions including USA, Bermuda, Singapore, Labuan, Guernsey, IOM, Malta, Dubai, Qatar and Luxemburg.
Tunstall Associates not only provides support for clients starting from scratch on the captive process, but can hand hold both the insurance team and board level stakeholders throughout the journey and on through the lifetime of the business.
Unlike most potential partners in this space we have been working on and engaging with boards on the introduction of Enterprise Risk Management for over 25 years. 30 years ago Steve was developing, marketing and implementing Monte Carlo based simulation packages for some of the largest PFI/PPP projects in the world. We have presented to and sat on multiple board Audit Committees and Risk Committees. Engagement with boards of directors requires a very precise skill set and we have that in spades. For more experienced risk management clients the tools and techniques we employ are those required to keep risk systems alive and relevant as the company evolves. Understanding and embracing the culture of any client is crucial and our clients are all very different.
Our preferred offering as your part time risk manager follows a structured and templated approach:
A two year secondment as Head of Compliance and Risk for Wadzpay.com during which time not only were processes and procedures set up for this Virtual Asset Service Provider (VASP) but also the full journey of applying for a Payment Service Provider license under the Monetary Authority of Singapore.
Genting Singapore heavily involved in the management of the compliance obligations including engagement with the Gambling Regulatory Authority of Singapore.
As Head of Compliance and Legal for Cathay Pacific Airways acting as ‘Non-practicing Managing Partner’ of the in house and external team. Managed a small team of in house lawyers with a large external support. Established and implemented target cost contracts with key law partners achieving clear fee reductions of ten percent, year on year, in several categories.
On behalf of the company managed the corporate response to a global cartel investigation led by FBI/DOJ/SEC involving over twenty jurisdictions globally. Appeared in court in several jurisdictions as an expert witness and appeared as a witness in a major corporate fraud case in Hong Kong.
Over 20 years here’s what I learnt