Open Cover was introduced by a predecessor of IRS over 50 years ago.
The principle is simple and straightforward, to provide automatic cover on Assets and Liabilities subject to an appointment, from the instant you are appointed. Our Open Cover product satisfies this requirement by offering up to 30 days automatic cover on a diverse range of trades.
Our service is tailored to your individual requirements and where you need a bespoke solution, we are here to assist you.
Automatic cover
No lengthy or complicated application forms
Advice and monitoring throughout currency of each individual case
Specific Property Owners product with expanded wording
Management and supervision of pre-appointment insurance whether continued or cancelled
Loss recovery and claims assessment
Our expert team can conduct site visits and risk appraisals
We can review and report on the adequacy of a company’s existing insurance programme, which can be required for bank reporting purposes. We will advise on whether the assets are adequately protected by insurance and we will highlight cost savings we could make by restructuring their existing insurance programme.
Where cover is required prior to a formal liquidation or administration taking place, we can arrange cover for this hiatus period to protect the assets prior to any formal appointment.
Once a formal insolvency appointment has occurred and Open Cover is in place, we will arrange for cancellation of the pre-appointment insurances and obtain any available refunds. IRS will also take over the handling of pre-appointment claims matters.
There are occasions when it may be advisable to keep Pre-Appointment insurances in place. They may be of a specialist nature or are fully paid and non-refundable upon cancellation. We will undertake a thorough review and we will only recommend this course of action where the client would benefit from the protection provided.
We greatly appreciate the professional, practical and commercial approach of Insolvency Risk Services in what can be difficult circumstances. Their approach allows pragmatic solutions to difficult problems providing vision, clarity and confidence.
Sanderson Weatherall LLP
Moving to IRS was hassle free. I particularly like their relationship management program which ensures frequent communication to me and my staff.
BM Advisory
Insolvency Risk Services are positive, pro-active, professional and provide clarity, vision and solutions. They are good at “getting the job done” and I would not hesitate in recommending them.
Smith Cooper
We have used IRS, who have arranged our Bonding and Open Cover insurance, for many years and have always received a reliable and professional service. The IRS team have always dealt with us promptly and efficiently and provided a high level of customer assistance which is essential in our line of business.