The Association of Run-Off Companies (ARC) has published its draft protocol and hopes to get the initiative up and running by October.
The protocol hopes to address the problem of disputes over the validity of commutations.
ARC chairman David McGuigan said the protocol should create an environment in which parties agree that commutations are recoverable.
He said: "At the moment the biggest uncertainty with commutations is how much money that you are going to pay out can you get back? You can't count on getting very much of it. This document gives you a list of people who have agreed and gives you the chance to concentrate on those companies that have not signed up."
