Platform Services
The first products on SuretyBlock include a portfolio of speciality coverages.
Services
Captive Management
Once the Captive is up and running, the focus turns to the ongoing management and administration of the Captive and products. This process can be broken down into five main functions which are managed through the Platform:
Captive/Cell Management and Administration
- Underwriting and insurance technical support
- Claims administration, payment and reserving
- Budgets and forecasts
- Liaise with reinsurers/brokers/claims managers/underwriting agents/legal advisers
- Premium collection and payment and premium allocation
- Reinsurance recoveries
- Manage cash funds and cash flow
Corporate Services
- Issue of share certificates
- Maintaining the Captive/Cell’s books and records
- Board meetings: preparation of board packs and minutes
- All other secretarial requirements
Regulatory Compliance
- Submission of annual regulatory returns
- Monitoring of solvency margin and other requirements
- Ongoing liaison with the insurance regulator including notification of changes to the business plans
Insurance Management and Claims Handling
- Underwriting services
- Issue of policy documentation and reinsurance documentation
- Claims management and administration
Financial Services
- Opening and maintenance of bank accounts
- Investment management and liaison with investment managers
- Financial reporting and general accounting
- Liaison with the captive's auditors
