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Our Expertise
Property | Casualty | Technical Services | Transit | Crime & Specie | Claims Management | Audit
McLarens Young supports seven core practice areas:
Each of our adjusters specializes in one or more loss types. These individuals and skill sets are strategically located throughout our global network in order to quickly reach a loss scene and assess the recovery process. Loss teams for catastrophic events are pre-formed in each of our global regions to facilitate rapid response to large or widespread losses. Our professional adjusters also provide clients with pre-loss planning and counsel to minimize loss opportunities and exposure.
Employee Owned - McLarens Young International is employee-owned. We attract accomplished senior professionals who average more than 20 years of claims adjusting experience. As employee owners, every employee, including adjusters, management, and staff, has a personal vested interest in our clients’ success.
Claims Adjusting - McLarens Young International are full service global Loss Adjusters who facilitate the settlement of both simple and complex claims. We act on the instructions of the client and immediately assess the extent of the loss and begin the mitigation process. Based on our extensive experience within an extended range of industries we are able to provide the insurer and the insured with a detailed adjustment plan and recovery timetable early in the loss adjusting process. With our global reach and experience, McLarens Young has been very successful in helping our clients minimize the economic impact of a loss. We understand that the most important outcome of the adjusting process is to return the business to its pre-loss condition or state, within the policy terms and conditions.
Services provided may include securing the damaged asset (tangible or intangible) against further loss, managing the repair of the asset, locating or contracting for a replacement asset, as well as quantifying any immediate and/or future financial loss. MYI's clients benefit from a proven, proprietary web-based claims management system that enables 24/7 access to up-to-the-minute claims status and information, regardless of the client's or claim's location.
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McLarens Young International ( MYI ) and our predecessor companies have a long tradition of professional property loss adjusting dating to 1931 in Scotland. Our experienced adjusters manage in all types of property claims, with particular expertise in:
- Hospitality
- Real estate
- Manufacturing
- Global and Regional Accounts
- Single Incident Major Loss
- Technology
- Business Interruption Following Property Damage
- General Commercial Property
Most property losses result in an economic asset that is either damaged or non-functioning, consequently the responsibility of the professional adjuster may extend far beyond simply valuing the loss. For instance, many property policies include business interruption coverage where the prompt return to operational use of the damaged asset or a substitute can save both the insured and insurer significant costs. Loss mitigation is foremost in every adjusters mind as he or she evaluates the management process for a particular loss. MYI’s experienced pro-active adjusters go to work immediately following a loss to assess the most practical and expedient way to return assets to productivity. In addition to adjusters with extensive experience in adjusting property losses, MYI’s network and subrogation operations deliver other significant benefits to insureds and insurers.
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Network - with over 300 offices and affiliates in over 80 countries, it is very likely that MYI will have staff close to your damaged asset. Our international strength allows the assignment of multiple adjusters for a single loss in the case of significant or widespread damage to insureds’ property. Over and above experienced and skilled adjusters, MYI delivers a worldwide organization to adjust and resolve client losses.
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Subrogation – MYI’s Property Loss Management program includes optional integrated subrogation support. Our adjusters document the subrogation case as a part of working the initial claim, shortening the recovery process. A full team of subrogation support staff is available as needed for a particular loss, including accountants and legal counsel.
Clients - MYI are the nominated adjusters for multi-national companies that are leaders in hospitality, voice and data communications, aircraft and defense manufacturing, technology development and manufacturing, as well as healthcare. Our experience in serving the insurers of these organizations is directly transferable to your particular requirements.
Case - Following a fire loss in the multi-story headquarters of one of the largest school districts in the US with more than 700,000 students, MYI’s assigned lead adjuster promptly focused on the business issue associated with the loss. That requirement was returning the building to service as quickly as possible to allow employees to return to the building and direct district activities. MYI’s on-site adjuster managing the loss had a strong background in smoke and water clean-up and restoration, and also had comprehensive business relationships with several local restoration service companies. Acting quickly, he contracted with multiple companies to begin the restoration process immediately, precluding the real possibility of mould damage and its attendant long delays in reoccupancy. The final result was a building ready for service in less than 60 days, and significantly reduced costs to the insured and insurer.
Case - A fire loss at a well known resort and convention hotel would impact a major scheduled convention, and generate significant economic loss to both the hotel and insurer. With timely loss mitigation at the forefront, MYI’s assigned adjuster went to work immediately to negotiate a swap arrangement with a nearby property that was recently built and had the appropriate rooms and facilities available for the convention. The results were happy conventioneers, and no revenue loss.
MYI Advantage - In addition to the financial ramifications of a property loss, our Global Network of experienced adjusters focus on the business issues associated with a loss, and act quickly and creatively to address them.
Each of McLarens Young International’s Global Service Regions has Senior Liability Adjusters and support staff on location with significant expertise and experience in:
- General Liability
- Product Liability
- Product Recall
- Employers Liability
- Professional Indemnity
- Environmental Liability
- Construction Defect
- Contractors Liability
- Public Entity Liability
- Event Liability
- Aviation Liability
- Protection and Indemnity
- Mediation/Settlement Conference Representation
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We work closely with insurers, insureds, and legal counsel, as needed, to evaluate and settle liability claims expeditiously. Our goal is to reduce client exposure and expense. For complex claims where settlement may take an extended period of time, we provide timely and efficient collection, investigation, and review of available evidence to allow resolution based on the most accurate information.
Case - Five claimants were severely injured when an industrial circuit breaker located at a switching station for a large Public Utility in the US Southwest exploded. McLarens Young International was assigned to adjust the loss. Working closely with the insurer and the insured, the claims were all settled to the satisfaction of all parties in mediation, and prior to trial. Structured settlements were utilized to minimize the overall cost to insurers.
Case – A helicopter crash was caused by a broken bolt in its rotor assembly. Parties to a subsequent lawsuit for personal injuries, damage to the aircraft, and loss of aircraft use included the parts manufacturer, the engine manufacturer, the aircraft maintenance company, and the helicopter passengers. MYI was retained to represent the insureds at a court ordered pre-trial mediation conference. Successful negotiation by MYI’s Casualty Adjuster specialist resulted in a pre-trial settlement of the lawsuit and a 26 percent reduction in the insurer’s final liability for the claim.
MYI Advantage – Our extensive experience in managing the Casualty claims process provides both insurers and insureds with equitable loss resolution and reduced claims expense.
| Technical Services |
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McLarens Young International’s (MYI) Technical Services Group supports a sub-set of traditional Property adjusting where the size, location, or complexity of a loss calls for special capabilities or skills. Specifically, MYI resources include adjusters, surveyors, engineers, project managers, and forensic accountants located in our seven geographic regions, which are available to manage major/infrastructure losses. MYI also has extensive resource contacts in a variety of allied disciplines that are available to populate a loss-specific management and project team. Particular support lines include:
Case - A major fire at a power generation plant in Thailand caused a potential loss of 14% of that country’s electric power capacity. MYI’s adjusting team moved quickly to take control of the loss mitigation process and managed the temporary repair achieving 100% recovery of the generation capacity within 30 days. The potential ongoing Business Interruption loss exceeded USD 220,000 per day. MYI’s on-site loss team, headed by a specifically recruited project manager, managed the permanent two year repair project to completion on time and savings to insurers were in excess of US 20 million on the permanent repair.
Case - In a loss caused by a hundred year rainstorm (72 mm in 1.5 hours), a solar evaporation minerals extraction facility in the Middle East was severely damaged by flooding. MYI’s loss team quickly took charge and ordered a day-of-loss aerial survey of the facility to provide a comprehensive overview of the loss and the work to be done. We then engaged contract surveyors and engineers to work with relevant insured counterparts to quantify the damage. At one point in time MYI had 30 professional contractors on the loss site. The final result was a litigation-free settlement, with a reduction of over US 8 million dollars from the insured’s original claim.
MYI Advantage - When organizations have significant domestic or international assets at risk, it makes good business practice to nominate McLarens Young International to adjust and manage potential losses. MYI’s global teams and experience have demonstrably reduced claim costs for our clients, and helped them achieve a faster recovery of their business operations.
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| Transportation |
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McLarens Young International has provided specialized global marine and other cargo services date back to the company's roots in 1931. Transportation losses often involve unique challenges such as location and access to the damaged property, knowledge of the many types of different cargoes shipped and international laws and conventions, and the differing interests of insured, insurer, and manufacturer.
Survey Services -MYI's full range of Transportation services is engaged even before the movement of the insured property. Beginning with pre-risk and loss prevention surveys and recommendations, our experienced adjusters can examine the proposed cargo route and the cargo itself to identify and ameliorate potential loss points such as transfer from truck or rail to ship, intermediate storage while awaiting cargo movement, cargo transit, and potential for external events such as strikes, or storms and other acts of God.
Case- In a typical example, MYI's professional surveyor inspected aboard ship a large piece of industrial equipment being transported from China to the USA during the typhoon season. Based on his survey and experience, the surveyor required that extra lashing be utilized. The ship did encounter a typhoon in mid-Pacific, and on arrival much of the ship's other cargo was severely damaged. The cargo of MYI's client was offloaded in pristine condition due to the extra securing that had been ordered.
Business Recovery - MYI has long recognized that in transportation services there is often a business recovery issue associated with a loss. Our goal is to help the business return to a pre-loss state as quickly as possible.
Case - An example of this was a large tunnel boring machine built in Japan and destined for Katmandu via Calcutta that was dropped and damaged while being moved within Calcutta Port. An MYI Transportation adjuster was dispatched to locate the cargo when the machine failed to arrive in Katmandu. The tunnel borer was finally found, damaged and accruing demurrage in Calcutta. MYI’s adjuster obtained the tunnel borer's release using local knowledge and contacts, and then engaged local engineering resources to repair the unit in Calcutta. A potential nine month delay awaiting a new machine was reduced to just 21 days by MYI's hands-on loss management.
Global Transportation Program (GTP) - Cargo Insurance is the most international of all insurance lines. With our strategic partners at W E Cox Claims Group, we have established a Global Transportation Program, which provides a focal-point solution to global companies needing all elements of their marine claims handled seamlessly from discovery through to recovery, on a worldwide basis. Specific information about this product can be found at www.myi-cox.com
Subrogation Services - are also an important part of MYI’s Global Transportation Program, and we offer a complete solution. Like most coverage, cargo policies have an experience rating factor. Because Transportation losses are often caused by, or are the responsibility of, a third party such as a shipping company or warehouse owner, it is important to identify, pursue and recover all third party liabilities for losses in order to contain future experience rated coverage costs. In addition, our adjusters are trained to take the 'extra step' at the time of survey in securing additional evidence which not only serve to satisfy policy liability, but will also ensure that the potential for a successful recovery is maximized. These services are provided by both MYI and our specialized business partner W E Cox Claims Group depending on the circumstances of the loss and account instructions.
MYI Advantage - Our Transportation teams deliver an end-to-end service with emphasis on loss prevention and expedited business recovery.
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| Crime & Specie |
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Unique Capabilities - MYI’s global claims services network has a longstanding reputation managing and adjusting Crime and Specie losses. Unlike other types of losses where random events or Acts of God may trigger the loss, crime and specie losses are often a result of infidelity, scams, theft, or other moral hazards. Successfully adjusting these losses requires unique capabilities which include traditional claims management skills, as well as extensive experience in working with fine art, jewelry, gems, cash and cash-like instruments, and what our professionals call “a good nose”. It is this combination of experience and intuition that has been developed by MYI’s senior crime and specie adjusters that allows them to act effectively for our clients.
Coverage – We manage the claims process for a broad range of coverage, including
- Jewelers Block
- Fine Arts
- Personal Articles Floater
- Fidelity Guarantee
- Employee Fidelity
- Bankers Blanket Bond
- Entertainment
- Furriers Block
- Musical Instruments
- Pre Risk Surveys
- Electronic and Computer Crime
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Cases - In a claim where an original Picasso sketch was damaged, MYI’s experienced professional adjuster knew to ask the question behind the question – “Was the sketch really a Picasso?” A review of the provenance of the “Picasso” discovered that it was not. In another fine arts loss a stain on a painting suddenly appeared and gave rise to a million dollar claim. MYI’s adjuster searched for and located an auction house transparency of the painting from 20 years prior, which showed the same stain. The painting had been purchased with the stain. In the loss of an ingot of heavy precious metal being transported by an armored car company, MYI’s adjuster found the ingot being used as an office doorstop by the transport company. It had simply dropped from the carrier bag and was unrecognized.
Recovery - MYI’s Crime and Specie adjusters also work closely with local and national police agencies to identify individuals associated with losses, as well as to recover stolen property. Negotiation through intermediaries for the return of stolen goods requires specialized knowledge. For example, the recovery value of a matched pair of items (more) versus one half of the matched pair (much, much less). Pre risk planning and consulting services, often delivered in the form of Risk Management Surveys, are also available to both insurers and insureds to reduce the risk of loss as well as to establish the basis for potential future claims. MYI’s Crime and Specie clients include insurers and insureds such as Financial Institutions, Armored Car Companies, sellers and transporters of jewelry, gems, monetary instruments and artwork, as well as organizations and individuals owning fine art.
MYI Advantage – Our adjusters serving the Crime and Specie market have the requisite experience, expertise, and intuition to manage and resolve a broad range of Crime and Specie losses.
| Claims Management |
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Accountability, Expertise, and Savings - McLarens Young International (MYI) supports Claims Management Programs across a wide group of industries and insurance covers. When insurers and insureds seek accountability, expertise, and savings in their claims programs, MYI’s customized Claims Management services make an excellent solution.
Choosing a fully independent global claims organization such as MYI for claims management ensures that there is a true arms-length relationship between policy issuing MGAs and the claims adjudication process. Insurers, or insureds, monitor the overall program adjudication process via a reporting system customized to the particular claims program. Unlike the traditional adjusting process, there is a single communication point established that removes any guesswork about claim status. Agreed upon authority and response times for the program are incorporated in a separate Service Level Agreement whose results may be monitored regularly.
Our areas of expertise include:
- General Liability, Auto, and Property
- Product Liability
- Construction Defect
- Inland Marine
- Events and Entertainment
- Transportation
Services Provided – MYI Claims Management services include:
- Notice and Proof of Loss management
- Loss mitigation
- Loss adjustment
- Subrogation
- Funds management
- Claims payment
- Bordereaux
- Custom reporting
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Experience and Network are Key – successful Claims Management Programs have at their core an experienced loss adjusting organization that has, depending on the program’s geographic scope, national or international strength and experience. MYI’s Claims Management Programs are supported by over 300 offices and affiliates in more than 80 countries, including more than 400 adjusters with complex loss adjusting experience. We take in stride and quickly respond to large losses, multiple losses, and international losses. Multiple adjusters are available to be assigned to a single claim or event as required. Our reporting system keeps clients right on top of the activity, real time.
Case – The largest business-to-business company in the world uses MYI to manage its Property, Construction All Risks, and Transit claims programs. MYI receives the first notice of loss, adjusts the claim, and pays the losses through a trust account. This client regularly reviews the program for efficiency and savings, and has chosen to both continue and expand it each year.
MYI Advantage - Call McLarens Young International for a proposal for a Claims Management program tailored to your specific goals and needs. There is a strong likelihood that our Claims Management experience will save your organization time and money.
MYI”s global service network provides a complete range of audit services delivered by experienced insurance professionals. We provide service for:
- Delegated Underwriting Agreements (DUA’s)
- Reinsurance Treaty Audit
- Incident Review
- General Auditing
- Litigation Support
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We also develop custom solutions for all areas of the insurance market. Centralization of the management of our audit programs ensures delivery of consistent, calibrated services on a global basis.
Delegated Underwriting Agreements (DUA’s) – The increase in regulation of financial services market has driven the need to ensure compliance at all stages of the insurance process. Where an insurer has delegated some or all responsibilities for managing a specific insurance program to entities such as managing general agents, third party administrators, and insurance brokers, the creation of a due diligence audit program is in the mutual best interests of all parties. This has particular bearing on DUA agreements where underwriting, and often claims handling functions, is ceded. At MYI, we support client-specific audit solutions to include:
Administrative functions
General management, processes and controls
Licensing
Financial standing
E&O coverage
Core business functions
Underwriting Issuance of policy documentation
Claims handling
Bordereau submission and account settlement
Handling of funds
Business continuity planning
We also work with in-house audit teams to support existing programs. Our professionals apply their broad experience to provide incisive audit reports, while at the same time recognizing the importance of key relationships and offering support and guidance where required.
Reinsurance Treaty Audit – We have experience in auditing reinsurance treaty facilities on a programmed basis, or in response to specific incidents. We create client-specific audit solutions that focus on key business functions, including underwriting and claims handling.
Incident Review – Best practices may dictate that an audit of the claim adjustment process be performed in a loss with significant financial ramifications and/or multiple claimants. Indicators calling for an audit may include:
Excessive time to adjust the claim.
Higher than anticipated claim costs.
Litigation, actual or threatened.
MYI’s audit program is customized to the claim and situation, and focuses on both macro and micro elements of the claims handling process .At the macro level, our professionals, all with extensive experience of the major/complex claim environment, audit and test the use of consistent guidelines and processes in the overall management of the claim or claims. Process refinements are recommended where appropriate.
The micro aspect of the audit focuses on technical handling and service level agreement compliance by the close review and assessment of a representative sample of individual claims. Incident Reviews can be performed upon closure of a matter, but deliver most benefit in a live environment where audit findings and subsequent revisions to handling can have a direct impact on the both the ongoing cost of the claim(s) and service delivery.
General Auditing – Our general audit service has two key components:
Claims Portfolio Auditing - a technical and service delivery review
Process Auditing - an independent, objective review of key claims handling functions.
We are able to design specific programs for insurers, captives or managers of self-insured programs. Audit deliverables include not only detailed reports, but also recommended process enhancements.
Litigation Support – MYI claims and audit professionals are well qualified to provide expert advice in the event of claims litigation. Our involvement is varied and will depend on the particular circumstances of the case. For example, we are able to offer evidence at a general process level to support the efficacy of claims handing procedures, or at a more detailed level, to deal with both policy liability and quantum.
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