Lloyd's ICM Syndicate 4242 has appointed CMGL to provide claims management services.
The syndicate, which was established by ICAT Holdings and is managed by Chaucer Syndicates, has $148m of capacity for 2007. It specialises in underwriting insurance policies for small-to-medium companies in catastrophe-exposed US regions.
CMGL will provide oversight and approval both of high value claims and of any claims that are subject to dispute, as well as reviewing claims bordereaux under the syndicate's binding authorities and approving cash collections.
Jerry McArthur, CMGL managing director, commented: “This underlines CMGL's commitment to supporting the live market by providing value added service to active underwriters and emphasises the value of the group's recent development of enhanced systems to support the management of coverholders and binding authorities.”
