| Management
Services
o Incorporation Process
o Preparation of Financial Statements
o Statutory Reporting & Compliance
o Policy Drafting & Issuance
o Underwriting Analysis
o Investment Analysis & Reporting
o Cash Management
o Claim Analysis, Tracking & Reporting
o Recording and Management of all Transactions
o Design and Maintenance of Critical Systems of Internal Control
Services Overview
Novus is a licensed Insurance Management Company in Bermuda. This
enables us to act in the capacity of principal representative and
manager for any new insurance or reinsurance companies wishing to
incorporate in Bermuda.
Novus assists in the incorporation of the company, including the
development of the business plan required by the Bermuda Regulators.
Whilst the regulatory environment in Bermuda is a truly functioning
partnership between industry and the authorities it requires experience
and knowledge of the nuances of the process and the quality and
presentation of materials is an important component of the review
system. Novus embodies such skills and experience. In addition to
regulatory liaison, the Novus team acts to coordinate all parties
to the incorporation process, the client, legal counsel, auditors
and actuaries.
Once the new entity is licensed Novus performs all necessary management
functions to ensure efficiency, control, accuracy and compliance.
Tailored Approach
Our integrated systems, industry experience and the Novus team's
depth of knowledge, mean that we can custom build the specific management
services that you require. Any of our accounting and/or consulting
services are integrated into the full management service contract.
Novus also services the pure captive industry, association or group
business, rent-a-captive or open market facility.
The team at Novus facilitates its clients' meetings in Bermuda
through the arrangement of hotels, secretarial support and leisure
activities.
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