– our client has a marine transit programme addressing various aspects of their transit exposures.  However, certain items of equipment in transit were subject to valuations that did not adequately reflect the economic value to the business in the event of loss or damage.  Falcon, through a cell, has been able to assist with a difference in conditions policy allowing, otherwise uninsured exposures, to be subject to agreed indemnities and thus delivering the insurance protection expected.

– our client offered a successful, and conventionally placed, extended warranty insurance offering to its client base.  However the manner in which the business was transacted meant that nearly all activity related to funds being moved rather than identifiable insurance risk being addressed.  This was further compounded by the application both of VAT and IPT to the transaction meaning, effectively, that excessive tax was being paid on the business model.  Falcon played a key role is reshaping the business model through the provision of high level insurance protection and removal of all routine money-swapping for which no insurance cover was required.

– the client has a high exposure and costly insurance programme.  However, many of the bolt-on benefits of a fully-fledged captive insurance company would provide no benefit and much was the same with a cell.  Certain reinsurance markets indicated an interest in the risk but an inability to participate without a front insurer.  Significant excesses were written by the cell and reinsurance protection was obtained thus delivering significant savings over a conventional approach and without the overheads, including central management time, of a captive insurance company.

– in this instance a client had every confidence as to the corporate governance within their business and potential exposures.  Good governance dictated that a D&O policy should be effected yet it truly represented “lost money”.  A wholly owned captive insurance company was a non-starter as exposures would stay within the group and the group could be seen to be controlling its own claim exposures.  Through use of a cell, and placing decision-making within a third party’s (the PCC’s) board, the client has been able to secure cost effective cover and, with continuing zero claims, receive dividend from the cell in respect of what would otherwise be lost funds.