American cedants interested in having their UK/European claim balances collected in a timely and efficient manner should consider consulting organizations with experience both in the United States and abroad. With an office in London, Alan Gray LLC has international experience dealing primarily with claim collection services from the UK and European markets. Projects are tailored for each cedant based on their situation and range from managing an entire book of business to collecting from individual reinsurers. Bespoke services are also available for situations that include one-off claims.
Collecting a portfolio of Asbestos, Pollution and Hazard claims for a US cedant from UK, European and Asian markets, resulting in over $3,000,000 being collected within the past ten months.
Negotiating on cedant’s behalf with reinsurers on various commutations, ranging from small deals to multi-million dollar transactions.
Creating and managing Letters of Credit on the behalf of US cedants. The Letters of Credit helped to reduce the cedant’s schedule F penalties at the end of 2009 and during 2010, claims monies were paid up to four weeks faster due to the established Letters of Credit that could be drawn down immediately as the claims are agreed upon.