We provide a broad range of strategic risk transfer and insurance advice for corporates and communities.

At Prospect Law, we understand the importance of strategic risk transfer and insurance advice for both corporates and communities. With our extensive experience and expertise, we offer comprehensive solutions to address various aspects of risk management. Our services cover a wide range of areas to ensure that our clients receive tailored solutions that meet their specific needs.

We provide comprehensive advice and assistance in the following areas:

1. Risk Transfer Program Design and Review:

  • We specialise in designing and reviewing risk transfer programs tailored to your specific needs.
  • Our expertise covers the integration and utilisation of:
    • Fully authorised and regulated insurance mutuals
    • Discretionary mutuals
    • Captives
    • Insurance
    • Reinsurance.

2. Integration of Discretionary Mutuals:

  • Discretionary mutuals, with a rich history spanning over a century, are a key aspect of risk transfer and management.
  • Examples of successful discretionary mutuals include the Medical Defence Union, Benenden Health, UM Association, Unimutual, Fire & Rescue Indemnity Company, and digitised crypto mutuals like Nexus Mutual.

3. Creation of Mutuals for Communities and Associations:

  • We can assist in establishing mutuals for communities and associations, harnessing their collective buying power.
  • By leveraging the selective nature of mutuals, we ensure equitable outcomes and minimise cross-subsidisation between groups.
  • Typically, 80% of claims are generated by 20% of the sector, and our experts help identify these groups accurately, resulting in tailored risk management standards.

4. Creation of Mutuals for Corporates:

  • Our services extend to helping corporates establish mutuals within their overarching parent companies.
  • This structure can be designed to support or preclude consolidation based on your specific requirements.

With our comprehensive range of risk services, Prospect Law is committed to helping organisations effectively manage and mitigate risk. Contact us today to learn more about how we can support your risk management needs.