Northport Financial has developed products and services built around our team’s insurance industry knowledge, as well as responding to the requirements of our clients. Our experience has shown that each assignment is unique and requires a specific blend of skills and resources. To facilitate each undertaking, we work closely with the client to develop a detailed understanding of the issues and concerns presented, then design an action plan to address issues identified.

Our backgrounds in insurance, reinsurance, risk management and operational management provide insight into a wide range of underwriting, policy and procedures development, internal controls, business analysis and underwriting management.

A partial list of our services includes:

Underwriting Audits and Due Diligence Reviews

• Insurance carrier reviews of underwriting facilities including MGA/MGU operations
• Underwriting and operational reviews of ceding companies on behalf of reinsurance carriers
• Client carrier internal underwriting reviews of regional and branch operations
• Contracted independent reviews of existing underwriting policies, procedures and controls
• Evaluation of pricing and development of alternative strategies to improve profitability
• Evaluation of Data System Capabilities

Northport can work in tandem with client staff or work independently on each of the initiatives noted above.

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Underwriting Guidelines and Tools

• Development of comprehensive underwriting policies, procedures and guidelines for property and casualty carriers
• Assessment of current underwriting polices, procedures and guidelines for clients
• Review business processes and workflows to develop alternative strategies
• Collaborative development of guidelines for specific books of business or unique underwriting strategies
• Business reviews and staff analysis to develop underwriting authorities and referral procedures
• Involvement in the design and publishing of underwriting reference materials encompassing issues such as hazard analysis and topical underwriting issues

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Contract Underwriting and Underwriting Support Services

• Line of business expertise, industry specific market intelligence, and operational knowledge available to clients on a contracted basis or as needed
• Additional capacity for Home Office activities including referral underwriting
• Contracted underwriting expertise in designated areas such as large account underwriting and account management
• Overflow or temporary underwriting support at peak periods for branch and regional operations
• Outsourced underwriting capabilities for underwriting managers, risk retention groups, or risk purchasing groups
• Underwriting and underwriting management support for organizations undergoing transitional issues
• Account management for individual accounts or books of business in runoff
• Project Management for Systems Design and Implementation

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Retrospective Rating and Retention Program Analysis

• Evaluation of program agreements to determine application of rating plan components to signed agreements
• Analysis of subject losses including loss limitations by line of business
• Review of allocated loss adjustment to insure proper handling
• Review of program factors and multipliers for accuracy in application
• Analysis of loss adjustment costs and application
• Review and analysis of rating plan adjustments for accuracy
• Maximum premium application analysis
• Aggregate exhaustion reviews
• Written responses providing recommended course of action for issues in dispute
• Historical research of client files for policy, program and rating data

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Legacy Rating Program Services

• Forensic underwriting reviews of acquired rating plans
• Historical underwriting program investigation
• Research of company and external documentation
• Analysis of subject losses including loss limitations by line of business
• Review of program factors and multipliers for accuracy in application
• Review and analysis of rating plan adjustments for accuracy
• Written responses providing recommended course of action for issues in dispute

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Workers' Compensation Experience Analysis

• NCCI and independent bureau experience modification analysis to verify calculations
• Review of workers compensation rating to determine correct application of industry credits and modifications
• Verification of individual risk premium calculations

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Expert Witness Activities

• Technical reviews of rating plans and rating plan calculations for disputed rating programs
• Cost sharing analysis based on time on risk
• Coverage analysis and evaluations
• Confidential work products for attorneys and in-house legal departments

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