Reducing Risks While Saving Your Company Money Is A Complex Task.
The Risk Management Team
Risks come from employees, environment or property, directors’ and officers’ actions (or inactions) or from products themselves. Organizations large and small risk corporate fraud, exploitation of intellectual property rights, breach of corporate governance codes and dependence on technology systems. Today’s modern economy also brings a multitude of new risks, especially post-Sept. 11. We witnessed a downturn in world stock markets, the revelation of massive accounting firm scandals and alterations of key industry relationships. The insurance industry itself has lost the ability to concurrently absorb poor investment performance, catastrophic loss and competitive premium pricing, resulting in a serious shrinkage of the domestic and international capacity to underwrite or reinsure risk.
In light of these facts, corporate clients are having a harder time than ever understanding whether their financial and corporate approach to risk management makes sense. Coverage must be comprehensive and well-thought out, but also must save money wherever possible. That is where Bryan Cave steps in. We bring a world of insight to your corporate risk management. We know that many corporate clients are not sufficiently protected by their insurance and other risk management vehicles. Many others needlessly waste money on programs that no longer fit their requirements. Our Risk Management Team does not act as a broker or intermediary. We are independent risk management counsel to you.
The Bryan Cave Approach
Businesses cannot afford to leave risks unidentified. Bryan Cave’s international Risk Management Team draws on the talents of 50 lawyers in nine offices throughout the firm to help you achieve a fully integrated risk management program quickly and cost-efficiently. Collectively, members of our Risk Management Team have represented both policy holders and carriers, provided advice to regulators and legislators and have the combined experience necessary to deliver counsel on all facets of your risk exposure.
We start by identifying and evaluating the risks your organization faces. No matter how small or how large your organization, our team will make a critical analysis of how efficiently your risk management strategy is working and how that strategy fits within the organization’s current business plan.
Are there risks which have not been covered?
Are there risks which have been covered using an inappropriate or expensive plan?
Does the current business plan permit certain risks to be retained?
What are the tax implications of a change in approach?
Could you deal with certain risks more efficiently using alternative risk transfer (ART) techniques?
Our lawyers are experienced in advising clients on insurance, reinsurance, self-insurance, financial products, captives and sophisticated (ART) solutions. We have innovative and practical corporate programs to help limit your exposure and reduce the overall cost of your risk management program.
Bryan Cave lawyers provide cutting-edge representation to clients in purchasing risk management-related products. We have an established, successful history in the risk management arena. What makes Bryan Cave different from other firms is our lawyers’ knowledge of all aspects of the risk transfer industry coupled with the global resources we bring to each representation. Our lawyers recently have advised on the following matters:
- Representation of an international car rental operation with regard to restructuring its insurance requirements both domestically as well as with its Bermuda captive, including the organization of agency arrangements;
- Restructuring for tax purposes of a major US retail chain’s Bermuda captive insurance and reinsurance program;
- Representation of an international consultancy firm in relation to its insurance and reinsurance arrangements, particularly from a tax perspective, of its Bermuda captive;
- Representation of a leading NASDAQ software company in structuring its directors and officers, errors and omissions and intellectual property risk management;
- Crisis preparedness training and risk management evaluation and advice regarding potential class action and product liability exposure for an international Fortune 500® manufacturer;
- Regularly perform M&A risk management due diligence reviews of insurance coverage and potential risks in connection with acquisitions;
- Designing a risk reduction program for a national commercial real estate owner and property manager;
- Represent purchasers and sellers of contaminated property (“brownfields”) in transactions where environmental liabilities are allocated, indemnified and insured with cost cap policies, and tax credits are obtained to defray the costs of remediation in state voluntary cleanup program;
- Representation of a FORTUNE 1000TM manufacturer in relation to its risk management requirements and programs in the US, the UK, Germany and Australia.