OPEN COVER

We can review and report on the adequacy of a company’s existing insurance programme, which can be required for bank reporting purposes. We will advise on whether the assets are adequately protected by insurance and highlight cost savings we could make by restructuring their existing insurance programme.

Where cover is required prior to a formal liquidation or administration taking place, we can arrange cover for this hiatus period to protect the assets prior to any formal appointment.

Once a formal insolvency appointment has occurred and Open Cover is in place, we will arrange for cancellation of the pre-appointment insurances and obtain any available refunds. SRIS will also take over the handling of pre-appointment claims matters.

There are occasions when it may be advisable to keep Pre-Appointment insurances in place. They may be of a specialist nature or are fully paid and non-refundable upon cancellation. We will undertake a thorough review and we will only recommend this course of action where the client would benefit from the protection provided.