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David McGuigan
David McGuigan founded his own consultancy in 2002 to provide advice to companies on the management of their discontinued books of business. The name LIMBO stands for Legacy Insurance Management & Business Outsourcing and gives a good description of David's business.

David's main focus is strategic advice on the management of discontinued business and the project management of the chosen solution including Schemes of Arrangement, Part VII Business Transfers and commutation programmes. These solutions can be achieved in a number of ways but are often done with David acting as the internal coordinator for the client. This includes helping to control the activities of the various other providers required to implement the transaction such as Lawyers, Actuaries or Accountants.

In essence a client will often delegate to David the management of their legacy business with David providing regular updates and reports from short notes through to Board presentations.

The role helps the client who, particularly in the ongoing market, often do not have the staff resource and maybe the experience to manage such closure mechanisms. The role includes the coordination of the jobs of the various experts to try and get the correct input at the right time, hopefully without unnecessary gaps in the process and overlap or conflict between them.

David has specialised in run off since 1994 and since becoming a consultant in 2002 has worked for a wide variety of clients. This was initially largely in the run-off market but his client base soon became, and remains, large companies in the ongoing market who needed assistance managing the discontinued elements of their business.

David's extensive claims and investigative experience enables him to gain a good grasp of the business and this can save many hours of expensive experts time who are often not as familiar with London Market underwriting practices and hugely diverse portfolio's of business.

The services he offers clients include:

  • Strategic advice on the methods of managing discontinued business.
  • Implementing a chosen exit solution and overseeing any experts retained to assist with the process.
  • Commutations, inwards and outwards, including either advice and assistance with them or full handling of the commutation.
  • Assisting with staff management including training, retention, recruitment and design of incentive schemes.
  • Inspections of Records - either performing inspections on a client's behalf or managing an inspection being performed by a reinsurer.

David has nearly 30 years experience in the London Market gained at Munich Reinsurance Company UK, Elliston UK, Scottish Lion Insurance Company (where he was working at the time that the company went into run-off) and latterly as Managing Director of Aurora corporate services, the company formed to manage the Independent Insurance Company after it became insolvent. His role for these companies has varied but with a significant emphasis on claims, outward reinsurance and general management.

In 1998 David co-founded and led ARC, the trade association for the discontinued underwriting sector in the London Market, and became its first chairman when it formalised its constitution in 2000. He held this role until he stepped down in September 2005 after seeing the association through to its incorporation and remained as a Director until late 2009 when business demands meant he could no longer dedicate enough time to being a Director.

David co-authored a Chartered Insurance Institute book on run-off and commutations that was published in 2006.

In 2009 David trained as a Mediator and is hoping to grow a practice in this challenging but hugely rewarding field.

If you would like some advice or assistance in managing your discontinued business please contact David
here.