Legal Services

 “PRS Legal” - a new venture of PRS


What
Legal services have been added as a new module to the PRS service catalogue. The new offering responds to the changing regulatory environment of the (re)insurance industry (e.g. Solvency II), the more rigorous enforcement by authorities and the increased compliance burden. PRS Legal supports (re)insurance clients to cope with legal and regulatory requirements, to establish robust governance and compliance systems and to draft or review legal instruments in pursuing growth or exit strategies.

PRS Legal comprises a wide range of legal consulting services addressing the special needs of insurance and reinsurance companies. It includes the following areas:

Regulatory Affairs
Licensing, prudential supervision, market conduct, governance, reporting
Compliance
Drafting and implementing of compliance policies and training, compliance risk assessments
Outsourcing
Service level agreements, due diligence checks
Transactions
Portfolio transfers, run-off, distribution and brokerage agreements
Insurance and Reinsurance Contracts
Drafting and review of policy wordings, traditional and innovative products
Claims and Liability Management
Claims handling, commutation, reserve estimation, legal risk assessments

Who
PRS Legal is managed by Dr. Rolf Nebel, a seasoned reinsurance lawyer with many years of experience as senior counsel at Swiss Re. He worked in various functions including claims, regulatory affairs and compliance. He is familiar with the relevant legal topics, business practices and governance processes of (re)insurance companies. Rolf is a Swiss attorney-at-law and recognised expert in Swiss and European insurance supervision law and reinsurance contract law.

How

PRS Legal provides legal advice tailored to its clients’ needs, in accordance with the following principles:

- Seeking the most cost-efficient solution: quick fixes
- Flexible service provision:  outsourcing, insourcing (secondments, projects), workshops
- Supplementary to client’s existing resources: bringing leverage to in-house counsel
- Legal engineering of multi-jurisdictional mandates or projects: cooperation with partner law firms

PRS Legal complements the existing range of PRS services and closely collaborates with other PRS experts if a matter requires an interdisciplinary approach.

Do not hesitate to contact Dr. Rolf Nebel should you have questions or wish additional information.