Run off Services
With over 25 years litigation experience, KLS Law are able to work with Connexus on large run off projects.
For businesses engaged in these areas of business, reserve releases are paramount.
In recent years, we have dealt with a very significant account involving policy information appertaining to over 1 million policyholders.
A key element was managing voluminous amounts of data which was set up by our internal data analysts and integrated into our own systems.
We are able to dedicate a team to run off contracts which includes policy administration on a daily basis, historical and current FNOL, claims administration, financial management and live reporting.
KLS Law can demonstrate very significant savings against long standing reserves and Connexus is able to manage multiple law firms as well as KLS Law in any run off situation.
A key element is subrogation and KLS Law has a specialist department dealing with subrogation as well as a central costs team.
Both teams are able to work on a No Win No Fee basis and offer competitive terms.
KLS Law are able to deal with motor, household, casualty (including employers' liability, public liability, professional indemnity, disease and property risks).
How KLS Law assist Insurers, MGAs and Brokers
We offer a full service proposition in the areas of motor claims, household, casualty (predominantly employers' liability, public liability and professional indemnity claims) and with our partners at the Connexus Group, we provide all services from FNOL to subrogation to include full legal defence of claims.
We assist insurers and MGAs in a number of ways such as:
- Policy development issues to ensure compliance with the Insurance Act 2015
- Drafting TOBAs
- Management of compliance and regulatory issues
- Drafting of TOBAs and TPA agreements
- Employment requirements
- Data protection and information security
- Requirements of ISO 27001
- Training and Webinars
- Reservation of rights, indemnity issues and repudiation.
- Auditing & Selection of supply chain
- Data management
- Trustee accounts and management of claims fund up to £250K LOE
To learn more about the support KLS Law offer Insurers, Reinsurers, MGAs and Brokers, please take a look at our insurance page here.
