Boomerang Recoveries, LLC was created as a partner to primary insurers after the founders worked hard to help protect the insurance company’s bottom line, including the identification of reinsurance asset leakage. While reviewing loss data, reinsurance contracts, and case law, $4.5 million of missed recoveries were identified.
As well, Bruce Heffner while General Manager and General Counsel of a small farm mutual in Arkansas, was responsible for recovering $600,000 in missed reinsurance recoveries, which was about 33% of the mutual’s surplus at the time.
To assist primary insurance companies by identifying missed reinsurance recovery, oversold programs structures and over-ceded premium errors, as well as identifying and refining the reinsurance procedures in order to proactively prevent missed errors going forward.
Our goals for our clients are: