Faster reconciliation for greater client satisfaction

A broker had a large book of North American binding authority business. As the claims on each contract came to a close it was necessary to reconcile the collections made from underwriters against the bordereaux and ensure the loss funds had been returned, making any final collections or refunds needed.

I was engaged to clear a backlog that was causing concern to underwriters, coverholders and third party administrators (TPAs). Following review of the ledgers and liaison with the parties concerned I was able to produce a final reconciliation to everyone’s satisfaction.