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Client Success Stories
Discovered unauthorized claims disbursements from common funds by a TPA and established recovery for overpayments of over $8 million by our client reinsurer.
Resolved reinsurance coverage dispute recovering $6.8 million in overpaid claims on terminated treaty.
Identified inaccuracy in the application of revised reinsurance premium rates on Excess of Loss treaties over five consecutive years resulting in recoveries of over $6.5 million.
Recovered $2.6 million in overpayment of reinsured claims on a "run-off" co-insurance treaty arising from a significant number FAC recoveries not credited to reinsurance.
Discovered significant missing specialty reinsurance premiums leading to recoveries of $1.5 million.
Detected numerous inconsistencies in the application methodology for claims and LAE allocation to "Stop Loss" reinsurance leading to the recovery of over $1.75 million.
Identified discrepancies between issued and paid claims leading to reduction of claims by $1.2 million.
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OneSource Reinsurance Analysis - Reinsurance Cost Recoveries
Over 100 Examinations Recovering Millions of Dollars for Over 50 Leading Clients
Reinsurance Analysis professionals have improved underwriting profits, reduced liabilities and recovered millions of dollars for a number of the top ten companies in the reinsurance markets. Our independent professionals can conduct an intensive examination focusing on an analysis and validation of premiums, claims and reporting to realize cash recoveries and improve profits. These in-depth transactional examinations are particularly effective for any reinsurance with adverse experience, TPAs, MGAs and businesses in run-off. Our examinations can also confirm "internal controls" for regulatory compliance.
Benefits of Reinsurance Analysis and Audit Assessments
Reinsurance Analysis professionals have provided leading reinsurers and insurance companies with the following:
- Assessments findings leading to significant cash recoveries that have also provided a competitive advantage to our clients in negotiating commutations or new reinsurance deals.
- Comprehensive assessment reports and specialized intelligence revealing areas requiring important changes and improvements in internal crucial controls, processes and systems.
- Confirmation and assurance of the propriety of claims and premium payments in accordance with the risks underwritten.
- Favorable and profitable claim adjustments that have resulted in improved product performance than that our clients had been experiencing under existing reinsurance arrangements.
- Objective and detailed assessment reports have helped salvaging old "unprofitable" reinsurance to revive "profitable" future business relationships with inactive clients.
- In-house underwriting, audit and other personnel resources have been conserved to focus on new business opportunities, commutations and the core business and other important operations of the client.
- Our performance based contingent fee option eliminates the need for incurring expenses on discontinued business or inactive contracts and treaties without the assurance of generating a matching benefit.
Experienced Analysis Teams
Reinsurance Analysis professionals all have at least 15 years reinsurance analysis and audit experience, and have conducted more than 100 contingent fee examinations for over 50 companies. Our senior audit director who supervises all audit work has over 25 of internal and external reinsurance audit experience. We offer the most unbiased and objective findings because we are exclusively focused on reinsurance recoveries and are not owned or controlled by brokers or other firms with conflicting interests. We represent reinsurers, cedents, intermediaries, retrocessionaries of reinsurance based in the U.S., the U.K., the E.U. and the throughout the world. Our professionals have represented clients in some of the most complex and challenging audit engagements.
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