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Reinsurance Audits

Reinsurance Audits

Audits of reinsurance clients or other insurance companies, including premium, claims, and underwriting to ensure adherence to guidelines, procedures and accuracy.

Redbridge Solution’s services for the audit are as follows:

GENERAL

  • Establish audit criteria based on the type of business ceded under the Contract
  • Obtain and evaluate a completed Managing General Underwriter questionnaire developed by RBS

UNDERWRITING

  • To verify that underwriting and rating are in compliance with the requirements of the Contract and / or General Managers Agreement
  • To verify that the approved underwriting guidelines are followed

CLAIMS

  • To verify that the Carrier/MGU has adequate internal procedures in place to effectively manage the business ceded under the Carrier Contract
  • To verify that the terms of the Contract are followed
  • To verify that the Carrier/MGU has a TPA evaluation program in place, if warranted

PREMIUM

  • To verify that the Carrier’s/MGU’s premium collection and remittance reporting procedures are in compliance with the Contract and / or General Managers Agreement 
  • To verify the accuracy of the premium statement reporting 
  • To verify the accuracy of the commission and fee deductions.

About Redbridge

An insurance and reinsurance management group specialized in global operations. The company provides a wide range of insurance business support services through its risk capital, business process outsourcing, and consulting divisions.

 

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