Meet Meena Wahi
Meena Wahi is an insurance broker from Cyber Data Risk Managers based in Melbourne. We've interviewed Meena to share some of what she loves about working in the insurance industry, her thoughts on where the industry is going
What do you love about being an insurance broker and an insurance expert?
Insurance broking offers the opportunity to add value to clients business, plus I like Insurance because it offers a high ROI to my clients.
What insurance lines are your core areas of expertise? Core areas you service?
- Cyber Insurance
- Intellectual Property Insurance
- IT Liability Insurance
- Director & Officers Insurance
What is the most unusual request you've had or heard about?
Another broker, who specialised in different insurance lines referring me their client as they did not fully understand cyber risk
What makes an ideal client? Why?
Someone who understand the risk and obligations and are willing to invest in mitigating the risk. I also like clients who understand emergent risk so take up policies that offer wider coverage.
When have you gone above and beyond for a client?
My client was refused cover by a number of Insurers. When they approach me, I was able to help them understand what they evidence they had to provide of their own internal procedures and controls, I spent a lot of time speaking with their team and explained to them in detail and also provided them with research. This lead to them to follow up on my suggestions due to which they were able to get the insurance cover required.
Why should someone consider using an Insurance Broker?
It is very important to use to an Insurance Broker as they can help you identify exposures, provide information to the underwriter which promises them full coverage, and educates your business about your obligations - so that you have a very high chance of your claim getting accepted.
What areas of insurance should people be aware of over the next 12 mths?
Businesses must do a health check on their insurances as changes in regulations and increase in use of the internet is likely to create more digital risk. Traditional insurance may no longer be relevant or provide adequate coverage from new and emerging risks like Cyber risks.
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Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Andy Jamieson.