From time to time even the most expert and conscientious NED may face challenge, accusation, or investigation. When it happens the experience can be challenging and stressful, particularly as is often the case when associated with other problems in the company.
Thorndon’s Loss Management service is designed to provide support across the entire range of activities necessary to respond to any loss event that may arise, respond to it effectively, and support you through the entire process with efficient case management, expert advice on process and access to insurance and indemnity, and fast and cost effective access to expert legal opinion.
The Loss Management service comprises of the following stages to help you through any crisis or challenge that may arise:
- First response
- Initial assessment of the loss circumstances
- Notifications of the company, insurers and others as required
- Review of personal and indemnification documentation and gap/defect analysis
- Advice and training regarding the likely process of the case
- Planning and preparation
- Case management plan
- Case funding plan
- Accessing initial specialist advice
- Defence implementation and case management
- Engagement with specialist counsel
- Documentation control
- Defence strategy advice
- Insurance liaison, budgeting, and claims
- Monitoring and reporting of costs against budget
Throughout the case, Thorndon will be on hand to help you to understand the options available to you, assess the technical legal advice provided, and understand the process as it progresses. It is our objective that at all times you will be fully briefed and in control of your case, and that you are able to fully recover all costs incurred under the indemnities and insurance available.
Thorndon has developed considerable expertise in this area and is uniquely experienced qualified to advise, support, and assist in all aspects of loss management, providing one-stop access to all required services and advice, and continuity of support and advice through to resolution.