Services Commutation / Collection Services

Debt Colection and Credit Control

Chiltington adds value to the debt collection process through its pragmatic and direct approach and by the use of its range of technical capabilities. Our experience in this area is extensive. We have collected money from companies in many countries and have been providing this service since 1982.

We focus on:

• Reconciling amounts due where necessary, often between cedent, reinsurer, and broker in a three-way process;
• Establishing direct (and, in many cases, personal) contact with the debtor;
• Investigating the reason for non-payment by the employment of, for example, our security review capability and other technical consulting services. In most cases, identifying and addressing the reason for non payment is the key to resolving the problem;
• Methodical and persistent dialogue directly with the debtor to collect funds, utilizing our skills to negotiate or, where appropriate, commute liabilities, often by personal visit.

Where commutation is recommended, we have the expertise to provide the ultimate loss and discounting calculations to provide a benchmark of the target commutation value. This value can also be adjusted to reflect technical considerations. For very large programs, we have performed extensive claims reconstruction and prepared detailed commutation packages in order to substantiate to reinsurers the values being sought.

In summary, our strengths in this area include:

• Independent, and hence conflict-free, nature of our operation;
• Worldwide network of offices and correspondents;
• Extensive library of up-to-date security information;
• Full range of consulting and negotiating skills which allow for successful completion of assignments.

These services are provided for both run-off and continuing collections, where our dedicated credit control team use their extensive contacts to collect all possible recoveries.