Scrutiny of the Bounty, JTW News

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The decision to undertake a solvent runoff of an insurance line or company cannot be a routine business-as-usual decision, like moving the headquarters to Chicago or investing in new computers. A solvent runoff of an unprofitable insurance line -- or even an entire company -- is a radical business transition that puts extraordinary strategic, tactical, operational and fiduciary pressures on management. It signals the start of an intense competition. Underestimating the significance and complexity of a shift to an active runoff mode is one of the biggest and most common misjudgments an insurance company can make. This article addresses how to avoid common pitfalls.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Pamela Woldow, Legal Leadership | Attorney Advertising

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