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Client success stories

Solvent and insolvent pool (multiple participants)

Scheme Management – Creditor notification

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Scheme Management – Creditor notification

 

Client description
• EAUA Pools (Marine, Aviation and Non Marine), multiple lines of business placed 1954 to 1992
• 19 solvent and insolvent companies

 

The Client’s requirements
• To obtain court sanction for a solvent scheme it needs to be demonstrated that all reasonable steps have been taken to contact the potential scheme creditors
• The procedures followed must be robust as they have to be disclosed to the court, and must stand up to scrutiny
• The majority of the clients’ business was written through intermediaries and the slips rarely included address details of the assured

 

Our solution
• An extensive name and address clean up exercise for the clients, mobilising a quick and efficient team with key experience in the business underwritten
• Development of a bespoke names and addresses database and a worldwide address search portal with an inbuilt translation facility.
• A comprehensive review of any mailings ‘returned to sender’
• Stringent reporting functions were established to record search efforts

 

Services/Value delivered
• On a book of business where 8,000 entities had no address recorded over 6,000 addresses were found
• Reporting capabilities utilised for ‘leave to convene’ and court sanction hearings, as well as in reporting to the FSA

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