An internet-based service called the Run Off Centre has been launched to help insurance people working in the run off process.
It enables people to complete commutations online, access data and legal templates, trade debts and access a global contacts database, among other things.
The Run Off Centre was launched this week on the first anniversary of its forerunner, the city3k Debt Exchange.
General manager Kelly Fegan said: "What the Debt Exchange revealed was that there is a huge, largely unacknowledged global community in run off.
"They liked the idea of debt trading but wanted more.
"In a way, they were asking us to build a home for the industry and they told us exactly what they wanted in it."
