Mergers & Acquisitions - Employee Benefits Solutions
In the course of conducting our comprehensive employee benefits due diligence
review, we identify critical issues affecting the deal pre-close, post-close
and at exit.
Our comprehensive review includes the following key areas:
Compliance Issues
- Review Form 5500 filings and assess compliance, potential violations, and their impact
- Conduct an overview of COBRA rates to determine proper parameters and address potential issues
- Review self-funded plans for possible non-compliance resulting in prohibited transactions
- Conduct a thorough review of documents related to discrimination testing, 401(k) compliance and discriminatory administrative practices
Plan Funding Mechanisms
- Estimation of Incurred But Not Reported (IBNR) claims run-out liability relative to current accruals on self-funded plans
- Thorough review of self-funded plans to determine potential prohibited transaction issues and their financial impact
- Examination of reinsurance contracts to discover potential issues involving terminal liability, discrepancies with plan documents, and claims run-out issues affected by change of control
Needs Assessment
- Development of pro forma budget
- Review and summary of all major benefit plans with comparison to national normative data
- Review of benefit plans to determine market competitiveness and possible coverage gaps
- Availability of international diligence to identify potential issues on a global platform
- Thorough review of Collective Bargaining Agreements and Purchase and Sale Agreements both historical and present to identify potential issues prior to close
Lockton Service
The key to our success is working in close partnership with each of our clients. Our specialists take time to listen and to understand your specific goals so that we deliver insurance solutions tailored to your requirements. This approach has earned us the trust of clients all over the world.
The same team that designs, negotiates and implements your business insurance plan with the carrier is also responsible for managing your service needs. This dedicated team approach increases our understanding of your business, allows us to anticipate your needs, and creates accountability and ownership by the team throughout the entire process.
Most insurance brokers promise a high-level of personalized service, but our unique structure allows us to actually deliver on that promise everyday. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
We firmly believe we get business based on our expertise, creative solutions and outstanding service. Just as importantly, our client retention rate of 95 percent reflects our commitment to each and every client.