Consulting & Administration
TurnStone offers a wide range of services in support of Managing Agents many of which are tailored to a client’s specific requirements
Internal audit services
TurnStone performs an overall review of an underwriting or claims team to assess the extent to which the risk management and internal control processes are operating effectively. TurnStone works with the Managing Agent in determining an optimal scope for the review.
TurnStone seeks to minimise the disruption to the business of the underwriting or claims team will look to issue the audit report as soon as possible following the audit. TurnStone recognises that Internal audit is an opportunity to enhance the processes being operated by the underwriting or claims team
Run off review and commutation handling
TurnStone is engaged by a Managing Agent on the non-renewal or termination of a binding authority contract with a Coverholder or TPA to ensure the smooth handling of the run-off operation. TurnStone has the expertise to effectively manage the business to closure and negotiate claims commutations as appropriate.
TurnStone has developed a specific run-off audit scope tailored for situations where the binding authority or TPA agreement has come to an end. TurnStone seeks to minimise the disruption to the business of the underwriting or claims team and will look to issue the audit report as soon as possible following the audit, which is especially important for run-off audits.