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Collection Services

Premium and Loss Deductible Collections

A streamlined Collections process is a necessity in today’s business climate. Collections professionals offer a solid understanding of industry nuances, and work to preserve the critical relationship between carrier, broker, and insured. They also excel at the detailed, systematic process required for collections success.

The Commercial Premium and Loss Deductible Collection Services practice specialize in the collection of outstanding commercial insurance premiums and loss deductibles. Utilizing a proactive approach to collections, the firm has enabled clients to improve cash flow, lower collection costs, and reduce over 90 day STAT penalties. Collection professionals also routinely work closely with major law firms across the country, in Europe and in Bermuda, in support of litigation and arbitration efforts including expert witness testimony.

Services include:
  • Commercial Premium Collections
  • Loss Deductible Collections
  • Receivable Management
  • Subrogation
Subrogation/Recovery Services
Subrogation is a key element of any successful claims management strategy. Having the skills to rapidly identify liability issues, and present timely subrogation claims for clients, can have a significant impact on a carrier’s loss ratio. With a deep understanding of industry nuances and investigative techniques, clients are provided with the most effective collection work available. Our services appeal to small- to mid-size carriers who have limited resources or want a more in-depth review, as well as large carriers who have overflow outsource needs from their own internal units. The Subrogation/Recovery Services encompass virtually all lines of insurance claims including general liability, auto, construction defect, environmental, workers‘ compensation, healthcare, professional liability and commercial property.
Services include:

  • Comprehensive investigative techniques that quickly identify liability and possible subrogation sources
  • Rapid implementation of a structured and exhaustive recovery process
  • Aggressive pursuit of all areas of recovery, whether it is subrogation, salvage or contribution
  • Nationwide Attorney Referral Network
  • 25 years of hands on claims management experience in both personal and commercial lines
  • Contingency-based compensation
  • Closed or open file review available

    Reinsurance Collections
    Organizations in need of reinsurance services must look for experienced consultants who focus on maximizing the economic value of their reinsurance assets by improving cash flow, lowering arbitration and litigation costs and reducing Schedule F penalties. Utilizing a team of seasoned collections professionals fluent in current industry trends and developments, as well as having an international industry presence, Alan Gray LLC is in an excellent position to address the collections cedents, including pool managers and companies under regulatory control.
    Services include:

    • Commutation Support
    • Account Reconstruction and Reconciliation
    • Arbitration and Litigation Support

    SAMPLE ENGAGEMENTS:

    Process Review of Major US Ceding Company
    A review of the commutation process and procedures for a major US ceding company was requested, including interviews with all staff involved in the process (accounting, claims, actuarial, collections, and operations). An additional review of the internal written guidelines and policies was also completed. Recommendations made by Alan Gray LLC resulted in a strategic collection effort and the implementation of a proactive strategy used to identify financially impaired reinsurers. This directly led to the preservation and maximization of the value of reinsurance assets.

    Long Term Relationship with Leading Property & Casualty Insurance Company

    Partnering with a leading property and casualty insurance company, our staff has successfully collected in excess of $26,000,000. Alan Gray LLC has the ability to quickly identify and resolve outstanding issues and disputes often without the need for costly litigation.

    Contract Review and Adjusted Accounting Entries

    Reconstruction of the accounting and billing records for a property and casualty company’s largest ceded program was undertaken. Reporting to reinsurers had ceased at the time that the company was placed in liquidation and no billing information was sent to reinsurers for a three year period. After reviewing the contracts, Alan Gray LLC determined the proper activity that should have been ceded to the various treaty layers. The accounting entries were adjusted and records were developed for the entire book of business, covering a five year period. In addition, detailed supporting documentation was developed and staff participated in the presentation to the largest reinsurer of the program, resulting in a collection in excess of $7,000,000 prior to the year-end.