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InSolutions Legacy Services (ILS)
Many companies and organisations face exposure to costly employers’ and third-party liability claims from legacy asbestos, environmental pollution, and other long-tail claims. ILS, Marsh’s dedicated insurance archaeology team can provide valuable support to organisations by managing these legacy claims issues.
What We Do
By identifying protection for legacy exposures, Marsh’s ILS team aims to provide you with clarity around known exposures, liability, and claims management – and highlights potential future risks. Furthermore, we offer you legacy risk insight derived from our deep sector knowledge and research expertise.
Our approach is to review, compare, and interrogate. We provide solutions based on:
- Wide-ranging desktop research.
- Site visits and/or remote interviews.
- Our market network.
- Knowledge and skills leveraged from the Marsh Risk Consulting (MRC) team.
This provides you with the ability to:
- Trace historic insurance coverages to build or rebuild your historic insurance profile.
- Profile of historical entities to assist the understanding of where liabilities sit.
- Transfer legacy claims.
- Better identify areas of exposure.
Areas of Focus
Our focus is the UK, Ireland, and the London Market’s global placements, and with the assistance of our global Marsh network, we can offer support to your business from anywhere in the world.
For more information on InSolutions Legacy Services, download our brochure or send us an inquiry at: mrc-uk@marsh.com
Insurance Tracing
We help trace historical insurance coverage and develop a historic insurance profile to identify protection that exists for legacy claims, providing certainty around claims transfer and resolution.
- Protection for investors and shareholders from unexpected legacy liabilities.
- Help trace historic EL coverage.
- A thorough corporate profile of historical entities associated with the business.
- Highlight options around legacy EL coverage.
- Build or rebuild the historic insurance profile.
The Value for You:
- The reinstatement by tracing of valuable lost insurance assets.
- The ability to focus on current business issues through the transfer of legacy claims.
- Future certainty around the protection against burdensome claims and expensive defence costs.
- An understanding of historical business ownership and the ability to redirect legacy claims to third parties or insurance carriers.
London Insurance Market
We locate historical insurance assets via a tailored project scope specific to the client’s needs; encompassing comprehensive research comprising of archival reviews, the interrogation of historic corporate records, and targeted engagement with the insurance market. Utilising our extensive contacts with other London insurers and insurance brokers, InSolutions also provides a comprehensive research service into Lloyd’s and London market records.
- Research of documents and business records.
- Interviews with current and former personnel.
- Research and contact with former brokers.
- Identification and contact with various outside sources, including law firms and insurance certificate holders.
- Research of government records.
The Value for You:
- The reinstatement by tracing of valuable lost insurance assets.
- Allows your management team to focus on current business issues through the transfer of legacy claims.
- Future certainty around the protection against burdensome legacy claims and expensive defence costs.
Claims Consultancy
Many companies faced with legacy London claims find they have to deal with several London brokers and are often not sure following takeovers who to notice. Our service in association with our claims colleagues offers a one-stop shop and access to in excess of 30 years’ experience in this field.
- Claims processing.
- Specialists in long-tail claims settlements.
- Understanding insurance and the insurance market.
- Arranging negotiated settlements and policy buy-backs.
- Non broker of record claims.
The Value for You:
- Reduced delay in tendering claim, by ensuring correct legacy brokers and carriers are noticed.
- Assistance to ensure the maximum potential recovery from your legacy insurance assets.
- Allows management to focus on current business issues through the transfer of legacy claims.
Global Policy Research
Many companies and organisations face mass tort and complex liabilities that significantly affect their financial outlook from around the world. Allegations surrounding these types of liabilities can span decades and include the following types of long-tail exposures. Marsh Risk Consulting’s global experience can assist in addressing these potential costs.
In particular, we specialise in:
- Employers’ liability.
- London faculty reinsurance placements.
- US liability (casualty) and Workers’ Compensation Act (WCA).
The Value for You:
- The reinstatement by tracing of valuable lost insurance assets.
- Allows management to focus on current business issues through the transfer of legacy claims.
- Future certainty around the protection against burdensome claims and expensive defence costs.
Insolvent Insurers and Solvent Schemes of Arrangement
Schemes of arrangement are a UK alternative to liquidation and are often used to close legacy books of insurance business in the London market. These schemes can either be in respect of solvent or insolvent carriers. Our services include:
- Providing market intelligence.
- Scheme votes and proof-of-loss handling.
- Recovery service.
- The potential benefits outweigh the cost.
The Value for You:
- Ensure that the full recovery is made.
- The ability to focus on current business issues through the transfer of legacy claims.
- Certainty around recoveries.
Insurance Coverage Explorer
Marsh Risk Consulting’s insurance coverage explorer provides clients with the ability to store and classify a complete inventory of insurance coverage, enabling organisations to effectively manage their business from an insurance and liability perspective in adherence to corporate governance standards.
The Value for You:
- Ability to confirm historic coverage and business structure instantly.
- Allows management to focus on current business issues through the transfer of legacy claims.
- Future certainty around the protection against burdensome claims and expensive defence costs.