|Chartis Expands Alternative Risk Offering with Rolling Buyouts|
NEW YORK – April 12, 2011 – Chartis today introduced Rolling Buyouts, a flexible loss portfolio transfer solution offered by its Alternative Risk division to help clients manage their historical retained liabilities and reduce the uncertainty of future adverse loss development.
Unlike traditional buyouts, in which a client typically transfers all historical retained liabilities to an insurer, the Chartis insurers’ Rolling Buyouts provide clients the opportunity to transfer liabilities in tranches, allowing for a myriad of combinations to accommodate specific needs and financial circumstances. Rolling Buyouts facilitate a fluid assumption of liabilities with a streamlined documentation process, whereby the client can monitor loss developments and cash flow to determine the scope and timing of each subsequent tranche.
“Insureds often take on large deductibles or self-insured retentions that become unattractive to manage over time,” said Joseph A. Davide, Executive Vice President of Alternative Risk. “With Rolling Buyouts, our clients have the continued flexibility to transfer their historical retained liabilities incrementally when it makes most sense for their unique circumstances.”
For more information about Rolling Buyouts or other innovative insurance solutions, please contact Joseph A. Davide at 212-458-3628 or firstname.lastname@example.org.
Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.
Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.