3) Magister Operis has a direct dialog with client to make sure the client is alive, competent, and ready, 4) Intermediaries professionally package themselves for efficient payment, 5) Magister Operis packages the data for submission to monetizer, 1) Magister Operis submits clients package to monetizer, 2) Monetizer does due diligence on the data and documents and authorizes an introduction, 3) Magister Operis introduces client/attorney to monetizer via email and arranges video conference call between parties, 4) Monetizer and client have a conversation to get on the same page with each other, 5) The law office of the external compliance officer does due diligence on EVERYBODY, 6) Transaction attorneys are introduced to each other to draft the transaction documents, 7) Monetization lawyer issues draft transaction documents to client and attorney for review, 9) Client's bank blocks asset as agreed on behalf of monetization bank as agreed, 10) Monetization bank triggers the credit line and transfers monetization funds into. If you really want to get something done, then contact me, as I can get it done, but only if you do things the right way., which is the legal way, like the regulatory permits. Based on the nature of services they offer, carriers manage multiple customer datasets demographic data, financial data, health data, corporate employee data, medical and property indicative data etc. The client will speak to the traders program consultant and go over the amount of the the lease the client is looking for. Skip to content. As more companies use intellectual property as collateral for loans, an insurance market designed to help facilitate the deals is emerging, industry sources say. In these common situationsthe financial solution is obtaining an insurance policy of underwriting that securitizes/wraps the value of the assets in order for the bank to be comfortable standing behind the assets with full banking responsibility. Case: Monetizing Historical Assets with Safe Keeping Receipts, Case Study: How to monetize Tailings with Bonds. Although each wrap-up insurance program is designed to meet the needs of the specific project, most programs insure employers liability, general liability and excess liability exposures for claims arising from the construction project at the construction site during the policy period. is a U.S. private equity trust designed by expert international attorneys, private bankers & professional consultants. Using an Insurance Wrap for Project Rather than having each party obtain separate liability policies, project owners and general contractors can turn to a wrap-up insurance program to manage their risks. The Owner is generally responsible for all insurance premiums. Finally, the client will need to repay the loan or fulfill the terms of the sale as outlined in the agreement. Assets that can be monetized vary from Real Estate to GemStones, and there are several ways of monetizing them. Wrap-up insurance is a policy for either very large construction projects that cost upwards of $10 million ($3-5 million in California) or for a string of smaller but related construction projects that are just as expensive in total. our Goal is excellence & our purpose is to serve in the world of private investments, Trade & project funding. For additional insights into CCIP and OCIP, please visit our webpage here. Credit Enhancement via Bank Notes. Purchase or Lease a Standby Letter of Credit. Educators Purchase More from the Authors February 2019 (Revised For example, workers compensation. This website uses cookies to improve your experience. Most Hard Assets accepted: Real Estate, Gemstones, Diamonds, Gold, High Value Art, and In-Ground Proven Gold, Nickel Wire, Copper Powder, Silver, etc. By leveraging your current assets, Investors are able to wrap them in an attractive Bond, CDs or other alternatives they choose offering excellent returns. This field is for validation purposes and should be left unchanged. If the borrower defaults on the loan, the lender may be able to seize the insurance wrap and use it to recover their losses. Click below to view TSIB's new CCIP vs. OCIP video! This allows Bluhe Financial to request SWIFT audits from a certified consultant. Assets that can be monetized vary from Real Estate to GemStones, and there are several ways of monetizing them. The evaluation of the worth of the intellectual property takes place within the context of what it would be worth if had to monetize it, which doesnt necessarily mean sold, Mr. Agiato said. Respondents at these companies say they are thinking more critically than others about monetizing their data, as well as using data in a greater number of ways to create value for customers and the business. The resulting SaaS platform offers access to medical records, an insurance repository and risk management services. Wrap-up programs can provide a number of benefits, including the following: Implementing a wrap-up insurance program requires real expertise. Because of the number of policies and insurers involved, this approach is often more expensive and can create the potential for unforeseen liability gaps. Get started with a free consultation. Property hard market expected to continue: Amwins, COPYRIGHT 2023 BUSINESS INSURANCE HOLDINGS, D&O challenges significant for private companies, experts say, WTW hires surety execs from Marsh, Hartford, Liberty Mutual names underwriting leaders, AssuredPartners makes senior executive changes, Aon recruits former enterprise risk manager, Property hard market expected to continue: Amwins. Bluhe Golds consultation platform increases wealth by building ownership of gold by creating investment grade paper to protect it's value and placement of trade. This program enables the Purchaser to cover multiple locations for ongoing maintenance operations under a single policy. Monetizing insurance wraps refers to using an insurance policy as collateral to obtain financing. Wrap-up insurance programs typically do not insure specific operations such as blasting, demolition or other high-risk operations. One of the main benefits of monetizing a Insurance Wrap is that it can provide a business with access to additional funding or liquidity. Preferably a law firm with 5+ partners and with errors, omissions, and professional liability insurance. Harvard Business School Case 519-082, June 2019. We don't care about the common RULES OF THE ROAD documents nonsense polluting the Internet and often at the top of the document stack in so many near worthless KYC packages. For example, a contractor may issue a bond to a client for whom a building is being constructed. Maintenance Wrap-UpThis insurance program option is essentially identical to the OCIP and CCIP, but it is generally procured by maintenance companies who have ongoing maintenance contracts across multiple locations. "Monetizing Insurance at Trov." More broadly, the market for intellectual property cover of all types has grown. How does the Purchase Own a Bank Instrument Work? Global project funding requires strategic creativity and ability. Onboard stakeholders across the organization into the needed culture change through training sessions on data dashboards etc. Transportation/customs documents/receipts from departing and destination locations. "The key to efficiency is details defined in advance." Other brokers including Marsh LLC are involved in placing coverage for intellectual property collateral, and PIUS Limited LLC, a managing general agent in Menlo Park, California, also offers a product. Bring copies of the RWA letters from your bank and underwriter to Magister Operis to include in the submission package to the monetizer. Data privacy is a concern because of the information that life insurers have access to around health, financial, lifestyle and other sensitive information also highly regulated in countries. Executive Summary/Letter of Intent/Letter of Request. OCIP. In the health insurance sector, United Healthcares subsidiary, Optum, monetizes its proprietary consumer data and offers technology, consulting and other services to providers, payors, government agencies and life science organizations. Its limited to the work being performed at the designated construction project and limited to the Contractors work at the project. It's that simple. Attorney attestation letter attesting to the authenticity of the collateral, the ownership of the collateral, the history of the funds that acquired the collateral, and the history (provenance) of the collateral. which means no hidden costs for you. The lender would then hold the insurance wrap as security until the loan is repaid. What accounting and legal firms will represent each project? That is easily understood and easily handled by putting significant focus on the credibility, competency, and accountability of the client's law firm with a currenty active and healthy errors and omission's insurance binder willing to attest to the authenticity and accuracy of the client's identity, registrations, assets, ownership, provenance, banking, and projects. Case Study: How to monetize Rare earth by using insurance wraps. All parties must execute the deed of agreement once it has been signed. It's not the right choice in every case, but there is a better way. Health insurance companies can use health devices data in combination with historical insurance claims data to develop new offers with discounts on premiums. WebCompleted through an efficient streamlined private placement, Monetization Financing can provide funding of $5MM or more within 30 days. Large-scale General Contractors typically procure a CCIP insurance program when they have favorable loss histories and can often secure better insurance rates than the project Owner. Allstate firm Arity, for example, is using its telematics data to open new markets. We don't accept files unless we have confidence that it will perform. The material on the website is for informational purposes only. If you are interested in insuring your next construction project with a wrap-up insurance program, reach out to us and we will take the time to walk you through the ways you can protect your business and its projects. our Goal is excellence & our All security grade paper is managed by licensed professionals when needed. Obtain a ready, willing, and able (RWA) letter from the underwriter that confirms the underwriter's readiness to issue an invoice that allows the payment of the premium to be paid within 30 days preferably alhough as little as 10 days may be allowed. The client will need to research different financial institutions or brokers that specialize in Insurance Wrap financing or sales in order to identify potential lenders or buyers. WebIf insurers fail to keep pace with these trends, they will continue to decline in relevance. Bluhe Shire When expanded it provides a list of search options that will switch the search inputs to match the current selection. The primary reason an Owner would purchase an OCIP is to reduce overall construction costs by not having the Contractors procure their own insurance. Just sayin' A competent attorney can mastermind the verbiage of an attestation letter that does not disclose confidential information yet gains the respect of the monetizer and external compliance officer to welcome an introduction so that parties can get to know and trust each other. D&O challenges significant for private companies, experts say, 2. AltFunds GlobalSuite 1403, 6A 170 The Donway WestToronto, Ontario, Canada M3C 2E8. Leasing and Purchasing Bank Instrument Calculator, Leased Telegraphic Key Note Wire Transfer (KTT TELEX) MT103 One-Way, Purchase Owned Standby Letter of Credit (SBLC), Purchase Owned Telegraphic Key Note Wire Transfer (KTT TELEX) MT103 One-Way, Leased Standby Letter of Credit (SBLC) Monetization, Loan to Value (LTV) Recourse & Non-Recourse Loan Calculator, Owned Standby Letter of Credit (SBLC) Monetization, Forbidden Assets, Providers & Client Standards, The Hanson Group of Companies FALSE Allegations, Forexlive Americas FX news wrap: Highs of the year for USD as PCE inflation runs hot. Most of these nonsense packages only contain maybe 25% of what conforms with real bank KYC/AML compliance and transaction requirements today. For businesses that no longer need an Insurance Wrap, monetizing the bond can provide an opportunity to sell off an excess asset and generate additional cash. It attracts new customers and opens up new revenue models as part of a medium-term strategy. Here are some real ways podcast hosts can make money from their work. Unlimited consultations are available until the file is completed. Traditional Sponsorships These are sold on a CPM, or cost-per-thousand basis, and generally* priced as follows: $18 per 1000 downloads for a 15-second pre-roll mention at the beginning of your show. Readers should contact legal counsel or an insurance professional for appropriate advice. That is the secret to getting done what I wrote in the beginning of this posting. Thanks so much. Combine this decline with increasing commoditization and price pressures, and the industry is ripe for compressive disruption, as start-ups and players from other sectors step into the void to claim higher, service-based returns, leaving traditional insurance players with If the asset is cash, what is the history of how the funds were generated? 6. Weve been doing this about three-and-a-half years and have completed a number of successful transactions, he said. 1. To search specifically for more than one word, put the search term in quotation marks. Take the RWA letter and proposed policy verbiage to your bank for approval and confirmation with the bank officers. Two significant requirements are needed for a client to utilize Monetization Financing: An absolute and unconditional promise to pay from an investment-grade rated Obligor; Once the terms of the deal have been agreed upon, the client and lender or buyer will need to execute a formal agreement outlining the terms of the transaction. This allows the premium to be paid at the monetization closing. Asking fewer and more focused questions will lead to more precise answers. CIS / KYC (Customer information sheet / Know your client) which includes a copy of proof of ownership of your asset (all signatures should be in blue ink). save time and energy: learn how to vet a private file in 5 minutes or less. 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