Liability reduction & data cleansing
When legacy issues are managed pro-actively, businesses can remove unnecessary distractions, secure assets, improve their balance sheets and, most importantly, release capital, putting it to work on generating new business and growth.
One tried and tested method of managing ongoing business and reputational issues is to identify, segregate and de-scale to former clients.
Pro can offer a range of experienced run-off practitioners to deliver the following:
- Project planning and strategic overview
- Data cleansing
- Reserve assessments – redundant reserve exercises
- Claims audits
- Review of claims funds (OCAs, Loss funds, Coverholder funds)
- Asset recovery – credit control and commutation negotiation and execution
Pro's philosophy is to align our clients' interests with our remuneration to ensure the delivery of a value added service. This means that our clients achieve their goals as efficiently and effectively as possible. We have many years of experience in tackling and concluding liabilities for clients with legacy exposures across a broad range of business classes.
The ranges of payment options typically available are:
- Fixed fee for the whole project
- Time and materials
- Contingent fee against reduction in liabilities and/or collection of assets
- Contingent fee for balance sheet savings
- Fixed fee for completion of milestones or individual projects
Our Track Record
Our success is built on our hands-on experience, in-depth knowledge and industry relationships which result in our ability to deliver value in a practical and flexible way. Pro has a proven track record in providing legacy services where it has successfully reduced over $4bn of liabilities for a number of clients with a range of business classes.