Fortune 1000 Manufacturing Conglomerate
Over a twenty year period, IAG reconstructed the insurance programs for the parent and 20 acquisitions adding over $100 billion to the client’s portfolio of historic insurance assets. Records were organized and scanned allowing multiple users quick access to the information in reporting and negotiating claims settlements. As companies were spun off, the research enhanced the sale value.
Fortune 100 Financial Institution
IAG researched the coverage of an acquired company mired in asbestos litigation whose operations closed decades earlier. No records were left nor any employees with institutional memory. Working in sources outside of corporate records, such as brokers, carriers, outside counsel and court records, IAG located policies and a variety of secondary evidence documenting over $1.2 billion in cumulative policy limits.
Specialty Chemical Company
IAG’s client was spun-off from a global conglomerate without any details of its coverage history. Faced with hundreds of toxic tort lawsuits, the company needed access to multiple insurance programs of its former owners. IAG was able to reconstruct $2 billion for both domestic and global programs by coordinating efforts with outside counsel, former owners, brokers and carriers. The value of the audit was further enhanced by integrating the policy details for all of the programs in a user friendly database.
National Building Supplies Company
The client retained IAG to research the pre-acquisition coverage of a target company as part of due diligence BEFORE the deal. Records were reviewed and key personnel were interviewed ahead of time. IAG located 23 years of coverage totaling more than $20 million and the client passed on the cost of the audit to the seller as part of the purchase agreement.