Services Management of Discontinued Operations

Assumed Accounting and Claims

The decision to cease writing a particular line of business, portfolio, or type of business can have a major impact on the future makeup of the company. Higher operating costs due to the need to pay retention bonuses, the loss of good staff, and the loss of management staff all contribute to an ineffective run-off.

Chiltington has been in the business of managing discontinued portfolios for over 25 years. Chiltington’s staff of highly trained professionals brings a wealth of expertise which will be tailored to the management of our clients’ discontinued operations. Chiltington’s dedicated staff provides the focus needed, which gives the client the comfort level desired, to ensure that the business is being managed efficiently and effectively. While we individually gear our services to each project, a number of services are generic and necessary throughout all discontinued operations. We have listed below a number of those services:

• We work closely with our client to convert the subject portfolio to our proprietary system.
• Whether facultative or treaty, excess or pro-rata, our team of professionals will monitor and manage our clients business from “Cradle-to-Grave.”
• All incoming claim activity will be closely monitored by experienced claim personnel with an average of 25 years of professional experience.
• Chiltington handles cash receipts and cash disbursements per our clients’ desires.
• Reserve changes will be closely reviewed and processed as required.
• Status reports will be provided to the client summarizing all activity on the portfolio. Chiltington has the ability to adapt to our clients’ needs instead of our client having to adapt to what is produced.
• All necessary statistics will be captured to enable the preparation of the statutory annual statement.
• We work closely with our client’s and welcome regular visits to review our operations.