Legacy Claims Solutions

Legacy insurance claims can have a significant impact on your business and balance sheet. Covering various scenarios, including personal accidents and injuries, property damage and casualty events, industrial illnesses, and more, legacy claims can be a considerable drain on your resources. Furthermore, it's estimated that around a third of legacy claims are in a settlement posture without a settlement strategy in place.

This is why outsourcing your legacy claims to a third-party claims management firm can be highly beneficial. At TMCM, we have a storied history in resolving legacy claims. Our approach revolves around three core areas:

• Comprehensive Claim Assessment and Due Diligence: We take a deep dive into the historical background of your portfolio to determine the true status of the claims within, assessing factors like case reserve accuracy. This process also involves identifying any excessive costs related to the claims (e.g., unnecessary medical treatments). We categorise legacy claims into distinct groups based on their risk:
  • Low-value claims
  • Large loss claims
  • Claims with potential to manifest into higher value claims
  • Potentially fraudulent claims
• Create a Resolution Plan for the Claim: Our plans outline clear actions, including settlement parameters and accountability for ensuring the legacy claim is settled. We consider various tactics for successful resolution, such as providing defined settlement offers instead of vague inquiries.
• Data-Driven Approach: TMCM utilises extensive IT infrastructure and database management software to accurately monitor and track your legacy claims. This allows us to continually spot opportunities to mitigate costs and resolve claims, as well as retrieve and aggregate important data from legacy case management systems.

Our experience spans a broad range of legacy claim classes, including directors' and officers' liability, public liability, professional indemnity, employers' liability, personal accident claims, and more. Working with TMCM offers all the services of an in-house claims department, combined with the nimbleness, innovation, and specialist knowledge of an agency.

Industry Expertise: At Your Service

Successfully handling many legacy claims requires acute knowledge of the industries from which those claims originated. Since our establishment in 2007, Thomas Miller Claims Management has successfully handled legacy claims from various industries, including:

• Maritime
• Cruise lines
• Yachts and marine leisure
• Ports, terminals & logistics
• Commercial fishing
• Energy
• Construction
• Insurance

This experience adds a further dimension to our expertise, allowing us to handle legacy claims worldwide effectively.

A Single-Source for Claims Handling

If you need support beyond legacy claims, TMCM offers a comprehensive suite of claims management and related services, including:

• Specialist claims handling
• Third-party administration
• Medical assistance
• Offshore personal injury
• Legacy claims solutions
• Audits

Look beyond legacy claims with Thomas Miller Claims Management. If you want to shed the burden of legacy claims, contact the TMCM team today. We are happy to provide a no-obligation consultation regarding your requirements.