Managing General Agency Audits

Due to increased regulations in the issuance and handling of binding authorities, audits of Managing General Agents (MGA's) is now a necessary part of transacting such business. To enable our clients to satisfy their and any imposed regulations, we provide a comprehensive MGA review audit which reviews the four general areas of a MGA's business, those being: Corporate, Underwriting, Claims and Financial.

In order that insurers can keep the costs associated with these audits as low as possible, we perform these audits with a fixed price cap. We also attempt to combine audits at the same MGA or locale to maximize fee and expense savings.

Financial Audits

We have qualified people who can be trusted to perform financial audits so our clients can be certain that their Reinsured or Agent are managing funds in an appropriate manner. We can also check that funds are correctly placed in Escrow Accounts. These services can also be used should you need to audit premiums due to you under a Reinsurance agreement.

We can be relied upon to perform audits so that adjustable premiums are accurately assessed and in the handling of claims where damages or loss of profits need to be accounted.

Claim Review

We perform reviews on behalf of excess insurers and reinsurers, encompassing all of their necessary requirements. We review the manner in which claims are being managed, how coverage issues are addressed, evaluate the appropriateness of reserves and determine if claims are being settled in a cost efficient manner. Our reviews are fully confidential and can be tailored to address any specific area of concern.

Underwriting Audits

We perform on-site underwriting audits to ensure that Reinsureds or agents, with delegated underwriting authority, are conducting business within the agreed parameters. Again, we specifically tailor assignments to accomplish our client's goals. We are also able to perform this service in conjunction with other pre-underwriting investigation, that may be deemed necessary.

Fee Audits

On behalf of insurers and reinsurers, we perform objective fee audits at both law firms and the offices of loss adjusters. We believe the continued monitoring and policing of all types of vendors can result in the considerable saving of costs.