PROFILE
- Fluent French speaking insurance professional
- In-depth experience of claims management and control, new product development, client contact and relationship management
- Proven experience of training and management of personnel and leadership ability
- Provider of independent consultancy services in the area of Professional Liability
- Range of services include:
- Assistance in the selection and appointment of Brokers
- Risk Reviews relating to the Liability and Fraud for Financial Service Sector Risks
- Independent assessment of claims
- Assistance with claims presentation and negotiation
- Review of policy wordings and assistance at renewal
- Review of Error and Omissions procedures
- Assessment of the effectiveness of remedial measures taken after an E&O incident or claim
- Review and investigation of the effect of an incident such as a fraud with a view to assessing why the incident occurred and what to do about it
- Interim Management
CAREER HISTORY
1999 - Present STEPHEN SUMPTION CONSULTANCY
Status: Founder of a consultancy practice following approach from former clients.
Responsibilities: Professional Liability, Special Projects, Risk Assessment
Achievements: Managing disputed professional indemnity claim arising out the Pensions Mis-selling Review for small IFA
Current status: Underwriters settled
Reporting to a Scottish clearing bank on the conduct a professional indemnity claims over the previous 5 years, and current state of that claim. Reporting on the possibilities for aggregation of a series of incidents into one claim
Current status: Report accepted by board
Assisting Lloyd's managing agent with quarterly compliance audit
Current status: Completed
Managing disputed professional indemnity claim arising out the Pensions Mis-selling Review for medium sized IFA following the liquidation of their Broker
Current status: Settlement negotiations completed, recovery in excess of £250,000
Providing interim management services following the summary departure of the Managing Director of the Professional Indemnity Division
Current status: Completed
Assisting insurance broking firm with disputed claims and with the management of their own professional Indemnity notifications
Current status: Completed
Assisting IFA Network in recovering from Professional Indemnity Insurers in respect of the Pensions Mis-selling Review
Current status: Two Reports prepared for the board, and client's own internal compliance team are now successfully managing the previously declined claims
Assisting a major international Bank by successfully negotiating the commutation of old year claims
Current status: Completed Recovery of ChF9,000,000
Assisting an IFA Network with the renewal of their Professional Indemnity including preparation of renewal presentations and selection of Brokers
Current status: Completed but retained for future Professional Indemnity problems
Investigating the cause and advising on the appropriate remedial solutions following a minor fraud
Current Status: Completed
Co-Authoring "A Guide to Professional Indemnity Policy Wordings" (Provisional Title) which will form part of the upcoming BIBA Professional Indemnity Initiative
Current Status: Guide has been accepted by BIBA and appears on their Website following the launch of the initiative.
1988 - 1999 SPECIAL RISK SERVICES Ltd. (SRS) (Now Aon Group Ltd.)
Status: Associate Director
Responsibilities: Special Projects
Achievements: Reducing the potential for litigation against Aon by improving and sustaining client relationships.
Reported on and drew up strategy for the SRS Board for penetrating Central Europe.
Dealing with Professional Liability, Crime, Bankers Blanket Bond, and Directors' & Officers' claims.
Initiation and development of S.R.S.'s major product line
Initiating and running the Claims department of SRS and training up new staff
Initiating and running the Policy Department of SRS
1988 J.H. MINET
Responsibilities: Handling claims on their Lawyers and Accountants Lineslips
1986 -1988 SEDGWICK PROFESSIONAL INDEMNITY SERVICES
Status: Lloyds Broker
Responsibilities: Placing Professional Indemnity Insurance in the London Market
Achievements: The last broker to place the Corporation of Lloyd's own E&O programme
1981 - 1986 NORMAN FRIZZELL PROFESSIONAL INDEMNITY
Responsibilities: Client Management, Placing, Claims, Cover Notes, Policy Work,
Office Back-up for Placing and Claims
Involved, mainly but not exclusively, in the Professional Indemnity field
1979 - 1980 J.H.MINET
Status: Lloyd's Broker (Assistant to Director & Senior Broker)
Responsibilities: Assisting on the Minet Lawyers and Accountants Facility
1976 - 1979 EDWARD LUMLEY AND SON
Status: Lloyd's Broker
Responsibilities: Placing Long Tail Australian Business in the London Market
1975 - 1976 PCW UNDERWRITING AGENCIES LTD.
Responsibilities: Entering Incidental Non-Marine risks
QUALIFICATIONS
7 O Levels
Lloyd's Market Certificate
Dip CII
International Chambers of Commerce Exams
Foreign Language in Commerce: Advanced French (with Credit) (fluent spoken)
Foreign Language in Commerce: Threshold German (basic spoken)