ARM is a Third Party Administrator for Certain Underwriters, Lloyd’s London for the contiguous United States along with various domestic insurers. We have undergone SSAE 16/ ISAE 3402 accreditation and have been approved by FCA in London; this information is available upon request.
ARM is a multi-line adjusting firm and TPA handling homeowners, commercial property, commercial auto, general liability, cargo, etc. Last year, we handled approximately $20 million in claims solely as a Third Party Administrator. Since we are in Arkansas, we are uniquely placed to handle both the east and west coast with their time differences, yet remain only 6 hours behind London, who can easily contact an adjuster when the need arises.
We are familiar with handling and tracking multiple claim bordereaux accounts. Monthly reconciliations are provided on a timely basis from our two full-time bordereaux staff. Spot collections on large losses are tracked separately and accounted in the same way. Checks are issued on separate banking accounts for each claim bordereau account and the checking account balance matches the bordereaux balance. For those potential clients who prefer ARM® to work from the premium bordereau of a MGA or coverholder, we are also accustomed to handling claim payment in this fashion.
ARM also provides MI Data as required by its Clients so KPI’s and other performance indicators can be reviewed as necessary. An executive report id provided for all files that fall outside the SLA’s so as to provide our clients with complete transparency related to those files handled by ARM.
ARM patterns our services to the needs of each client; therefore, if you have special needs or requirements, please do not hesitate to let us know and every effort will be made to accommodate your request. ARM® incorporates your firm’s claim handling philosophy and procedures. All of the adjusters have access to your instructions through our patented computer system. Also, as the principle, you have access to our files and loss run access so you can check on the status of your claims at any hour.
Reserving is reviewed each month on all outstanding claims, and changes made to reserves are tracked with the reason for same being recorded. All files are prepared in anticipation of audit and/or litigation to insure the utmost attention to detail.
ARM is fully compliant with all Rule 111 – Medicare as Secondary Payer requirements. We can submit reports directly to Medicare’s COBC on your behalf to determine Medicare eligibility for claimants, or we can provide the same information to the RRE of your choosing. ARM is already the RRE for some of our clients, while we work closely with the designated RRE for the Lloyd’s Market to provide timely reporting and compliance with all Medicare issues.