Other Services

Other Services

Claims Review and Analysis

Mr. Bingham began his long career working for three of the United States' largest insurance carriers. The company has developed expertise in insurance regulatory, production, claims, underwriting and reinsurance matters, with particular strength in claim reserve studies, claims adjudication projects and reinsurance cession allocation.

Representative Engagements

• Reserve adequacy study of a medical malpractice risk retention group in liquidation.
• Environmental claims review for a property and casualty carrier addressing reserve adequacy and coverage triggers.
• Final claim evaluation and adjudication for two Risk Retention Groups in liquidation.
• Claims adjudication for a Nursing Home Liability Risk Retention Group in liquidation.
• Reviews assessing claim department staffing, policies, procedures and settlement fairness.

Other Services

Business Interruption Insurance Services

The insurance industry is facing an overwhelming crisis which will require the skill and proven problem-solving capabilities of experts possessing hands-on, technical know-how. Significant claims continue to emerge without precedent, prompting coverage disputes and litigation that can trigger state and national regulatory responses.

GIC's business interruption practice draws on senior-level operational and regulatory experience from roles at major insurers, government service, and consulting — combining analytical rigor with practical solution development.

Representative Engagements

• International claims involving breach of contract, terrorism, and civil disturbance across multiple countries.
• Consulting practice development for a major commercial property insurer.
• Expert defense in negligence and bad faith allegations regarding delayed business interruption claim payment.
• Consultation on multi-million-dollar tornado loss claims involving complex restoration timelines.

Other Services

Regulatory Consulting

Mr. Bingham, assisted by the Glynloen Insurance Consulting team, fully enjoys all aspects of regulatory consulting. Based upon Rick's experience working for and on behalf of many Departments of Insurance, GIC possesses unique skills and capacities for dealing with market conduct challenges, mock examinations, and the development and propagation of new processes.

Representative Engagements

• Retained by a Property and Casualty carrier to assist in defending a multi-state Market Conduct Examination in which the client was accused of violating rules and regulations in all 50 states. The engagement lasted over five years and required numerous appearances before the NAIC's Market Actions Working Group (MAWG), hearings at State Departments of Insurance, and on-site dealings with state Market Conduct Examiners. Duties included writing a Corrective Action Plan (CAP) and a Regulatory Settlement Agreement (RSA), and designing and directing a mock examination based on the tests prescribed in the NAIC's Market Regulation Handbook.
• Engaged by the Illinois Department of Insurance to perform a targeted Market Conduct examination of an Illinois-domiciled reinsurer — examining the ceding commission structure, operating expense budget, price and rating program (including questions of capacity and surplus requirements), and provisions of the company's reinsurance agreements. Performed pursuant to an Examination Warrant signed by the Director of Insurance and resulting in a Final Report of Examination.
• Retained by a Property and Casualty carrier to assist in responding to a Department of Justice subpoena seeking data, records and responses to interrogatories.
• Designed and conducted mock market conduct exams for multiple Accident & Health and Property & Casualty insurers.