Short Tail Reinsurance Claims Group (STRCG)
The Short Tail Reinsurance Claims Group (STRCG) was set up in 2006 and provides a representative forum which allows, where appropriate, discussion of common issues and concerns within the short tail reinsurance market. The group meets bi-monthly and reports directly to the LMA Claims Committee. The chair of the group is David Goddard, Axa XL, the deputy chair is Joe Fitzgerald, Hiscox.
Role of the Group
Primarily, the role of the group is to:
- take the lead to identify and investigate short tail reinsurance related issues with an objective of producing solutions for the benefit of this market and the market in general
- initiate project or sub-groups where appropriate to address specific issues
- advise and provide feedback to the LMA Claims Committee where short tail reinsurance issues have a wider implication to the market.
- exposure monitoring regarding CAT events
- Large Loss Co-ordination
- market solutions for dealing with Precautionary Notifications
- guidelines for cedant solvent/insolvent Schemes of Arrangement
- assessing legal issues and judgements and their effect within the reinsurance market.