Protected Cells
The power to manage your own risk
In addition to providing cover to underwrite Insurance Backed Guarantees, we also provide Cells for trading companies that want to manage their own financial risk.
What is a Cell?
In a cellular structure each cell in the PCC keeps its assets and liabilities separate from those of other cells. The cell owners have no contact or involvement with the other cells. Each cell owner is required to capitalise its cell based on the assessed risk and the cell's capitalisation.
Funds retained within the Cell are fully protected and managed within the regulatory framework set by the GFSC. They therefore sit outside of the financial operations and controls of the organisations that own them. Just like a normal policy supporting an Insurance Backed Guarantee, should the owners of the Cell cease trading, monies are protected and retained within the Cell for the duration of the guarantee term and continues to provide protection to the customer.
What is a PCC?
George and Grey Insurance Limited is licensed to provide Managed Services for the administration, auditing and general management of a Cell or a number of Cells. We negotiate contracts with organisations wishing to establish a Cell and handle all aspects of the day-to-day operations of the Cell. We provide each Cell with access to cost effective professional management of regulatory requirements that must be met if outside of a cellular structure.
Premium contribution is independently determined by George and Grey Insurance Limited, the PCC, based on the data provided by the Cell owner and then subsequently managed and audited by George and Grey Insurance Limited.