In February Pequod received formal approval as a London Market Expert for TPA (https://londonmarketexperts.com), thus providing managing agents and others at Lloyd’s with a one-stop point of access for all due diligence processes and relevant paperwork relating to use of third party claims administrators.
On 1st May, 2015 Scott Day will be joining Pequod’s Claims Services division, bringing with him outsourced cargo and freight liability claims work for the Lloyd’s and Hong Kong markets. We are delighted to make this announcement, bringing as he does over 20 years experience in the industry and presenting Pequod also with a landmark foray in to providing direct claims services for the Lloyd’s market.
Our overall TPA and outsourced services business has trebled over the last two years and now encompasses clients from the US, Latin America, Scandinavia, South East Asia, Hong Kong and Japan as well as our traditional markets in London and Europe. Be it commodities, vehicles, high end electronics, foodstuffs, pharmaceuticals or even logistics and freight liability issues arising around the world, Pequod has the dedicated hubs, adjusting & language skills, survey network and MI support to provide bespoke client services
We have developed a successful bespoke global adjusting, surveying and subrogation package, providing a one stop shop for brokers, traders and underwriters in the specialist field of fruit transportation and storage.
Pequod commenced recovery services to Brazilian underwriting, trading and broking clients in 2014 and in May this year will have a dedicated business partner on the ground in Brazil, offering all Pequod clients access to legal expertise and language support for all recovery issues arising in Brazil.
In 2014 Pequod launched a JV in Istanbul named GRS offering our global client base access to recovery services in Turkey and throughout the Black Sea region. This will provide clients with a trusted brand access to specialist recovery and legal services in Istanbul and throughout Turkey and the Black Sea, coupled also with the obvious advantages of language and local market knowledge.
Since 2008 Pequod has engaged with a dedicated and hugely experienced client advocate in Nigeria providing a host of investigation, adjusting, subrogation, GA, salvage, grounding and collision support services to the Nigerian and Ghanaian markets, and providing excellent results for forum shopping for clients outside of Nigeria.
Since 2013 Pequod has been offering clients a bespoke legal costs (ATE) insurance facility enabling the funding of legal actions in London which otherwise may not be economically viable for clients. Under an enhanced fee arrangement, Pequod is able to offer clients an environment for litigation in London covering solicitor, counsel, expert, other disbursements and adverse costs, without risk or exposure to the client. Several million dollars has been recovered for clients via this facility to date.
Now in its sixth year of operation, the Singapore office has carved out a solid niche in freight liability TPA work, acting for some of the largest freight forwarding groups and their insurers in SE Asia. On subrogation, the team’s recovery performance in oil and oil product losses continues to shine through, with one of our directors presenting to the oil industry’s HMC-4 meeting in November 2014.
Since June 2014 Pequod USA LLC has seen a large increase in business in North and Latin America and has taken on three experienced individuals to strengthen the team. The office is continuing to expand, not only in core cargo TPA and subrogation business, but into Hull and Machinery, liability and non-marine areas of insurance through under deductible claims programs with traders and manufacturers combined with support from major Underwriters and brokers.
A number of new faces have started working with Pequod since the start of 2014 including in our US operations, London, Singapore, Stowmarket and for Brazil. The team has strengthened in a number of areas and group language skills now encompass Chinese (Mandarin), French, Portugeuse, Russian and Spanish.
In addition, we are delighted to announce that in April, 2015 John Clark and Rob Sweeting have been elevated to full director/ board status within the Pequod Group.