We will track down and make direct contact with the problematic reinsurer or agency and, in full consultation with your company will negotiate a settlement on your behalf and, when necessary, a commutation of the outstanding liabilities. The financial position of reinsurers can change dramatically over a period of time. Often, reinsurers, that were once regarded as reasonably safe security, will fail to settle claims on time or will ignore correspondence. We can identify these symptoms and will advise your company on the best approach to take in order to collect the outstanding balances - whether involving direct contact with the reinsurer or through arbitration or litigation. If we evaluate that the problem can best be solved by compromise, we will represent your company at all stages of the negotiations, leading up to a commutation and settlement of the liability.
Regular collections are a routine procedure and can usually be handled in-house.
Difficult collections, however, require a specialist approach. We, at Re Collections International , can offer your company the personalised approach needed to achieve results. Our unique approach has proven itself to be both highly cost and time-effective to the reinsured, avoiding whenever possible, costly and protracted arbitration or legal proceedings. As a result, our collection fees are significantly lower than those charged by law offices. We have had excellent practical experience handling reinsurance and insurance company liquidations and in dealing with inter-related problems.