Solutions |
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PROJECT SUPPORT TO RISK MANAGER - DATABASE Engaged by Risk Manager of Fortune 50 firm to provide senior advisory input into design and implementation of database to track litigation on mass tort cases and facilitate collection of defense cost reimbursements. Provided guidance, direction, and instructions to technical support team on appropriateness of design and user friendliness of database. Tested database and directed necessary changes to ensure system was working as expected. Provided supervision and training of clerical support to use database on an ongoing basis. Developed instructions for alternative use of database for various coverages and tort actions. Worked directly with insurance company to reconcile information to facilitate processing for payment. Client was able to record, track, summarize and support submission of hundreds of legal bills to multiple insurance carriers spanning over 10 years. This resulted in immediate reimbursement of in excess of $5million of defense costs from multiple carriers and opened negotiations for reimbursement of an additional $5million. ONGOING SUPPORT TO EVP FINANCE – INSURANCE PROGRAMS Engaged by Executive Vice President Finance of mid-sized firm to review renewal proposals for insurance program. Work with existing agent/broker to maximize coverage offerings and minimize price increases on all property and casualty programs. Provide input into alternate ways to approach carriers to improve offerings at renewal thus reducing initial proposal offerings made by agent/broker. Provide input into reviewing suggested property loss recommendations to avoid unnecessary capital expenditures and focus on areas of most value to client and concern to carrier. Provide ongoing review and guidance regarding policy, endorsement review. Provide claims data analysis including loss/cause analysis leading to improved safety program. ACQUISITION SUPPORT TO FOREIGN-BASED PURCHASING COMPANY Engaged by Risk Manager of Swiss-based manufacturing company to provide due diligence review of potential acquisition. Provided project management leadership and support to team to organize data, develop information review, conduct management interviews, complete multiple plant inspections which culminated in recommendations and final board of directors report. Acquiring firm was able to identify safety, loss control weaknesses in acquisition and adjust purchase price as well as provide for appropriate management awareness post acquisition. Provided ongoing program review, oversight and guidance to parent company post acquisition regarding compliance by acquired firm to corporate risk guidelines. Provided additional input/project management for subsequent acquisitions. MERGER SUPPORT TO TREASURER OF NEW FIRM Engaged by Treasurer of firm formed firm by merger of two divisions of joint venture partners to review risk, design, implement new risk management/insurance program for newly formed firm. Provided guidance regarding internal infrastructure, scope and program structure for ongoing programs. Provided input regarding historical, pre-merger loss experience to minimize insurance costs and identified previously unidentified risk exposures for inclusion in program without additional cost. ACQUSITION SUPPORT TO OUTSIDE ADVISERS Engaged by Investment Banker to review information available on insurance program, loss history of firm being acquired. Provided review of programs and input regarding historical loss issues, loss forecast implications and risk exposures. Review facilitated establishment of additional reserves for expected losses and alerted advisors to potential exposures for which they were able to adjust the purchase price. STRATEGIC RISK MANAGEMENT SUPPORT TO TREASURER Developed strategic risk management review and recommendations for mid-sized manufacturing/processing company to consider alternate approaches to their program. Established goals and objectives for the ensuing two years to accomplish a complete review, restructuring of their programs. Worked with the risk manager to review programs, historical information and information on new acquisitions to incorporate into new program. Enabled broadened program with minimal cost increase. PROJECT SUPPORT TO TREASURER Engaged by Treasurer of multinational firm to develop crisis management program to expedite internal communication of potential crisis and action to be taken in the event of an incident. Provided access to crisis management consultant and regional FBI. PRICING REVIEW SUPPORT TO TREASURER Engaged by Treasurer of firm facing additional premium charge which would more than double workers' compensation cost well in excess of exposure growth. Developed an alternative pricing approach that resulted in minimal additional premium consistent with company growth. EXPERT WITNESS Engaged by prestigious insurance plaintiff law firm to provide expert witness and consulting expert testimony. All cases resolved to the advantage of the plaintiff. PROCESS REVIEW Engaged to review dedicated claims service unit of large religious organization. Provided cost and time-saving recommendations resulting in redeployment of personnel to better service the ongoing claims handling of significant cases as well as significant productivity improvements. CONTRACT REVIEW PROCESS Engaged to review general contractor specifications for merged entities and provide consolidated approach to contract requirements including review of inbound and outward bound certificates. Established overall guidelines for use by various entities. SPECIFIC CONTRACT COMPLIANCE REVIEW Engaged to review aircraft liability contracts, including certificates of insurance and specifications for new acquisition. Provided summary of open issues for contracts as well as open certificate of insurance issues. Recommended changes to specification requirements to provide guidelines with insurance company requirements. |