Insolvency practitioners become directors of a company at the appointment of a new insolvency. As part of this process, practitioners inherit a level of WHS risk during trade on and divestment of assets. If this WHS risk is uncontrolled and there is a safety incident or breach during the period of appointment, practitioners may be required to demonstrate how they have identified, assessed and controlled hazards in a timely manner.
The complexity of many business risks (e.g. Work, Health and Safety (WHS), environment, property, etc.) require that insolvency practitioners take a serious, coordinated and planned approach to their management responsibilities.
Upon notification of appointment to our Gallagher Insolvency and Turnaround practice, Gallagher is able to provide risk advisory services direct to our clients through dedicated insolvency-literate specialists from within our Gallagher Workplace Risk Team.
This offering enables Gallagher to have all of your insurable and non-insurable risk management needs covered in one place simplifying the way in which we service your needs. Gallagher Workplace Risk assists our insolvency sector clients to identify and assess people risk, operational risks and compliance exposures associated with practitioner appointments involving acquisition or divestment activity.
At Gallagher, our Safety Team comprise highly experienced management consultants, who provide WHS due-diligence and strategic advice, assessing trading and non-trading risks from an insurable risk perspective whilst discussing people, operational and compliance risk management needs. Together with Gallagher’s Insolvency and Turnaround Practice, suitable insurance coverage and prioritized risk management plans are implemented for the client insolvency practitioner to enable Officer Due-diligence and mitigation of risk exposures. Collectively our insolvency and turnaround solution assists practitioners make the right decisions associated with managing risks and exposures whilst reducing liabilities in accordance with the best commercial options available to the business or entity.
Typical Services available to assist an insolvency practitioner across their appointment include: