Consulting Services
Collection of Reinsurance Funds
We act for insurers in the collection of reinsurance funds from reinsurers located locally and overseas. Our extensive network in the reinsurance industry, and our negotiation skills, have assisted us to successfully collect debt from all over the world, including India, Dubai, Bahrain, Singapore, Hong Kong, Taiwan, Malaysia, France and the UK.
Commutations
We negotiate the commutation of reinsurance contracts, representing either the insurer or reinsurer or acting as an objective independent third party. 3red has negotiated commutations in all of the major insurance markets in the world totalling in excess of AUD1.3 billion.
The process includes:
- Reconciliation of contract listing
- Analysis of financial position between parties
- Identification of issues
- Resolution of contentious issues via negotiation, arbitration or litigation
- Negotiations between parties
Run-off Management
We manage the run-off of entire insurance and reinsurance portfolios, including the day-to-day management of the operation:
- Claims management
- Reinsurance recoveries
- Technical accounting
- Credit control
- Commutations
- Exit strategies - including Schemes of Arrangement - Administration
Schemes of Arrangement
Working closely with your legal team, we can manage the process of a scheme of arrangement from start to finish, including allocation of resources and communications strategy within the Australian regulatory and legislative framework. We can also act as a claims adjudicator.
NOTE: We do not provide legal advice.
Resolution of Reinsurance Disputes
If a dispute exists under a reinsurance contract we can advise on a strategy to resolve issues and provide advice on the application of reinsurance terms and conditions.
If required, we can also support your lawyers in court or arbitration proceedings (see Litigation Support).
NOTE: We do not provide legal advice.
Product Development
Our many years of experience in the insurance industry places us in an ideal position to assist in the development of insurance and reinsurance products. We can also provide assistance with systems, procedures and documentation.
Litigation Support
We work in conjunction with your legal advisers to prepare matters for trial, including reviews of documentation to identify technical issues.
NOTE: We do not provide legal advice.
