Insurance Consulting > Third-Party Liability Insurance Consulting > Schemes, Insolvencies, Deadline Submissions

London Market Schemes of Arrangement (Schemes) and domestic proof-of-claim (POC) filings are essentially insurer-driven commutations, and in many respects the approach for policyholders is similar to any other commutation of coverage. However, these deadlines create several additional issues for policyholders, including tracking Schemes and other market developments, assessing any implicated coverage, and determining if a filing is justified by the anticipated return. Scheme business fragmentation increases this complexity, making it even more difficult for insureds to determine if they are affected

LLM’s consultants have some of the most detailed experience in the industry in assisting policyholders with Schemes and POC filings. We follow a disciplined and focused approach assisting clients with the following:

Subscription Review – Due to the increased number of Schemes and the related business fragmentation, it is often considerably more efficient to undertake a review of all London coverage one time rather than on an ad-hoc basis for each Scheme, including capturing enhanced details typically required by administrators.  If desired, the results of this review can be linked directly to the corresponding policies in a client’s underlying database.

Monitor Scheme Updates – LLM utilizes many different resources to stay current on Scheme and POC filing deadlines and to keep clients up-to-date on market developments that may impact their coverage.

Review Documents – We have close existing relationships with Scheme and insolvency practitioners and can typically obtain critical documentation before it is provided to policyholders and other creditors.  We then review these documents to summarize the different aspects of the proceedings and their filing requirements to help streamline the process for our clients.

Contact us about your specific case needs: (440) 498-0171 info@llmconsult.com