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Loss Portfolio Transfer

Loss Portfolio Transfer

Signal’s Loss Portfolio Transfer product is the solution for maritime employers holding costly books of self-insured runoff Longshore claims.

Maritime employers who have self-insured their Longshore exposure are often left retaining costly books of runoff claims. These legacy claims can result in significant administrative and organizational burdens, ongoing expenses, and unpredictable liabilities that can remain on the books for an extended period of time. In addition, these legacy claims may create balance sheet issues since capital is required to back these liabilities. Signal’s Loss Portfolio Transfer product is expressly designed to solve this problem.

Available to qualified Signal Members and non-Member maritime employers alike, Signal’s Loss Portfolio Transfer product leverages the strength of Signal’s financial security to remove legacy runoff Longshore claims from an employer’s balance sheet.

Developed and administered by Signal’s in-house actuarial department, Loss Portfolio Transfers utilize an employer’s individual claim files (and other relevant information) as a starting point to quantify the total cost of the runoff liabilities. These liabilities are then transferred to Signal in exchange for payment. The liability and all associated future risks becomes a Signal risk and is removed from the employer’s balance sheet.

In addition, management of the claims and payments is transferred to an experienced third-party claims administrator which relieves the employer of administrative time and results in cost savings.

The Longshore Loss Portfolio Transfer product can be utilized by any maritime employer looking to shore up their balance sheet and claims operation, in most cases regardless of the size or maturity of the liabilities.

The associated administrative fees are competitive, regardless of whether or not there are underlying reinsurers involved in the legacy claims. 

To learn more, please contact Signal’s Chief Underwriting Officer, Justin Gardner at justin.gardner@signal-ct.com or 203.761.6041.