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Bonds for Insolvency Practitioners

Support for insolvency professionals. Tailored solutions, risk assessments and analysis, negotiation and placement, and ongoing support.

Bonds and Risk Management for Insolvency Professionals

Insolvency Practitioner Bonds

All appointment taking Insolvency Practitioners (“IPs”) are required to have a bond in place to comply with legislation. The bond must meet the regulatory requirements and provide for losses to the insolvent business or estate caused by the IP’s fraud or dishonesty.  All bond cover wordings must be approved by the Secretary of State for Business and Trade.  

Marsh is in the advantageous position of having two bond products. Our experienced brokers will discuss which bond is most suitable for you and your business. 

Ongoing support

Marsh provides ongoing support throughout the bond placement process and beyond. Our team of experts can:

  •  assist with any questions or concerns related to the bond.
  •  provide guidance on compliance with regulatory requirements. 

Risk management for insolvency firms

Marsh's R&R practice can provide support for various risk management needs in addition to our insurance and bonding solutions. Some of the main types of risk management support provided include:

  1. Property valuations: Marsh can assist with property valuations to help assess the value and potential risks associated with properties involved in restructuring and recovery assignments.
  2. Site investigation: Marsh's R&R practice can conduct site investigations to identify any potential environmental or other risks associated with specific locations.
  3. Hazard identification: We can help identify and assess potential hazards and risks within a given environment, providing insights to mitigate those risks.
  4. Fire risk assessments: Marsh can conduct fire risk assessments to evaluate the fire safety measures in place and identify any areas that may require improvement.
  5. Health and Safety: We can provide guidance and support in implementing effective health and safety measures to ensure compliance and minimise risks in the workplace.
  6. Cyber: Marsh offers expertise in cyber risk management, helping professionals in the restructuring and recovery field protect against cyber threats and data breaches.
  7. Environmental, Social, and Governance (ESG) and Climate Related Risks: We can also assist in evaluating and managing environmental, social, and governance and climate related risks, and incorporating sustainable practices within your business operations.
  8. Training: Marsh can provide training programs to enhance risk management knowledge and skills for professionals in the restructuring and recovery field.
  9. Legislative changes: We can help navigate and adapt to legislative changes, such as those related to multi-occupancy properties, ensuring compliance, and minimising associated risks.