It has been our good fortune to be named as the claims administrator on numerous binding authority contracts on a nationwide basis. We offer a “cradle to grave” claims administration program to coverholders and Underwriters for either specific tasks or progressive and complete handling through file closure to include initial claims intake, instruction of previously vetted adjusters, claim file management, litigation management, subrogation/salvage London reporting protocol and format, reserve monitoring, bordereaux maintenance, loss runs, check issuance, and banking.
We administer the following claim types on a nationwide basis:
Personal and Commercial Auto, Trucking, General Liability, Artisan Liability, Garage Keepers Legal Liability, Products Liability, Professional Liability, Premises Liability, Construction Defects, and Dealers Open Lot
Homeowners, Rental Property, Apartment Housing, Condominiums, Commercial and Retail Property, Cargo, Heavy Equipment, Tractor/Trailers, Commercial Autos, and Private Passenger Vehicles, Occupational Accident
We actively manage litigated claims to insure client control of the claim file at all times. With the help of our clients, we have created a large panel of well-qualified, well-respected attorneys (coverage and defense) who are familiar with both foreign and domestic insurers and Lloyd’s syndicates. The panels vary from client to client. Controlling attorney activity and pre-agreed pricing structures assure cost control. We clearly document instructions and expectations to coverage or defense counsel upon assignment. We fully understand the importance and significance of settlement versus potential defense costs and actively communicate with our clients at all stages of litigation. When warranted, we are effective in moving cases to the mediation stage as early as possible to achieve an early settlement and minimize legal and expert expenses.
We are well versed in historical London bordereaux protocol. Our system is quite flexible and bordereaux can be adapted to specific data, as required. We have a dedicated bordereaux maintenance manager that assures accuracy and timeliness. Unless otherwise instructed, the bordereaux is faxed or e-mailed to the desired entities by the 5th of each month. Full implementation of Version V data has been launched.
We maintain segregated insurance trust accounts holding loss funds. The accounts are segregated by contract and year of account and are reconciled on a monthly basis. Clear and concise reports are generated to support the usage of funds and these reports and account reconciliations are included with the bordereaux distribution. Procedures are in place for account reviews and the return of any surplus.
Our firm utilizes electronic banking for making deposits and sending/receiving electronic transfers and our system is capable of processing and accounting for all transactions. In terms of security, our electronic functions have been approved by our banking facility.