Newvest Recoveries is capable and experienced in handling a broad spectrum of Insurance Recoveries that include; Subrogation Recoveries, Re-Insurance Recoveries, Premium Recoveries, Claims Recoveries (Liability Claims, etc.) and Property Damage Recoveries.
Specifically our Re-Insurance Recoveries coverage includes the following:
- Re-Insurance Premium Outstanding, Facultative Re-Insurance Claims Recoveries, Treaties Re-Insurance Claims Recoveries
- Facultative – Re-Insurance placed with local and foreign reinsures insurers and/or Re-Insurance placed through intermediaries operating in Malaysia.
- Treaties – Proportional and non-proportional (including Run Off Treaties) placed among local Re-Insurers and/or placed through brokers operating in Malaysia.
Our experience has shown us that it is a common phenomenon that within the insurance industry valuable recoveries are not promptly acted on and aggressively pursued. It is a norm, in claims handling, that recovery processing seems to be given less priority due to pressure on company staff to devote most of their time processing direct settlement of claims.
These technically competent staff, if used to undertake the long, protracted and arduous task of recovery processing, will detract them from their core function – to scrutinize and efficiently process and settle claims. When an insurer practices speedy and efficient claims settlement it will reap the benefits of customer satisfaction which is crucial to the profitability and growth of the company. Most often it has been seen that the time and resources expended by insurers in the area of “back-room operations” like recoveries are not cost effective. Our fees shall purely be based on a contingency basis – No Success, No Fee.
Newvest Recoveries has an experienced and specialized Insurance Recoveries team that spearheads this area of recoveries who have already proved to be highly successful and expedient in recoveries. Our personalized, professional and persistent approach in focusing on these recoveries is a resource that most insurers do not have available. Furthermore our fees are purely based on a contingency basis – No Success, No Fee. Our recoveries software system provides for status reports to be generated that will keep clients up to date on the progress of the recoveries.
We provide the persistent personal touch in this area of Insurance Recoveries that will be a success and the release of monies locked up can be expedited quickly. |
