Siesko responds to softening market
– 7 December 2007
New York-based insurance and risk services specialist Siesko Partners has expanded its suite of services to include strategic run-off solutions and policy drafting and analysis in response to softening rates and market conditions.
Founder David Siesko, the former chief claims officer for Zurich Financial Services global corporate, said: “In softening market cycles, insurers shed less profitable lines of business, which generates run-off claims that require substantial management. Due to the nature of run-off, many companies become overwhelmed by the level of claims that emerge from historical underwriting or from the need to focus on new priorities. We believe we can help them manage the process and work more efficiently during tumultuous times.”
Insurance is an easy business to enter, but a difficult one to exit, Siesko added. Whether the carriers are dealing with a single line of business or the whole book, there are many exit options to consider. Siesko Partners’ run-off solutions will help insurance carriers reduce liabilities and achieve closure.
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