Full scale run-off management
Cavell's experience of run-off covers very recent portfolios as well as latent accounts going as far back as the 1960s. We have taken over accounts managed by other service providers/in-house run-off teams as well as assisting existing management with the sometimes painful transition from live underwriting to run-off.
Our starting point in any run-off, whether the portfolios are owned by the Randall Group or we are operating as a third party provider, is to agree a run-off strategy, looking at the goals of all major stakeholders, focusing in particular on the likely conflict between the speed of achieving finality and total cost of a run-off. The tools we employ to implement the plan will include:-
- Underwriting Support
- Claims Management
- Audit and Inspections
- Reinsurance Recoveries
- Commutations
- Finance & MIS
Whilst we often provide these services as part of a complete package, removing the drain on management resource, we can provide each service on a stand alone basis, to resolve particular issues or provide additional resource to management.