Restructuring Environment – Informal Restructuring
Genoa Underwriting Managers, on behalf of Safire Insurance Company Limited, offers a bespoke Professional Indemnity Insurance Policy on a very selective basis for corporate restructuring advisory services provided by an Advisory Firm.
Companies often consider Informal Restructuring as an alternative to Business Rescue. An informal restructuring requires a company to work with some or all of its creditors outside of a formal process in order to come to a negotiated solution where the company can return to financial health. Informal restructurings have been said to have a higher success rate than Business Rescue, primarily because the often negative connotations associated with Business Rescue are avoided in whole or in part. Due to the informal nature of doing business under an informal restructuring process the level of transparency and accountability creates trust in the process. Additionally, as informal restructurings are usually confidential, (no media or public court system) the company’s reputation and market value, relationships with employees and supplier are preserved.
WHY CHOOSE GENOA?
As Genoas footprint in the liability space continues to grow from strength to strength, we thought we would share with you why more and more brokers are choosing to work with us as their partner of choice:
Our Underwriters are committed to providing our clients with superior turnaround times when issuing quotations and schedules of cover
Our underwriters are experts in their respective fields and are able to offer our clients technical advice which helps empower them to secure an account
We have strong working relationships with the top re-insurers in the country including Munich Re and Swiss Re who support all of our Professional Indemnity products
Through strategic reinsurance partnerships we are able to offer competitive market premiums
Our policies include a number of meaningful extensions that offer true value to our thousands of Insured clients
Our Insured Practitioners are represented by the top law firms in the country, including firms like Clyde & Co, Garlicke & Bousfield, Mac Robert Attorneys, Norton Rose Fulbright and Webber Wentzel
OUR COVER CAN INCLUDE:
This policy offers Professional Indemnity cover for the Advisory Firm and any named Consultants in respect of their legal liability to pay compensation as a result of actual or alleged negligent act(s) , error(s) or omission(s) in the exercise of their Professional Advisory Services.
Need this cover?
Our team of Broker Consultants are ready to answer any questions you may have