Claybrook & Associates is an accounting and financial services consulting
firm with expertise in state and federal receiverships involving regulated
entities including property and casualty insurance companies, brokerage
companies, insurance agencies, surety and fidelity bonding companies,
health maintenance organizations (HMOs), securities brokers and dealers
and mental health providers, as well as other non-regulated entities.
A privately owned firm, we specialize in the control, management and
recovery issues associated with complex regulated receiverships. Having
worked closely with insurance commissioners and securities commissioners
as well as guaranty associations in many states, Claybrook & Associates
is uniquely qualified to act as the Receiver or Deputy Receiver or provide
discrete services to the Receiver or Deputy Receiver.
Our Approach
Much of Claybrook & Associates success in managing
receiverships is a result of the immediate security controls put into
place when working with a troubled entity. This approach is critical
if the company is to have any hope of survival. Within a matter of hours,
our trained staff physically visits and secures the entity’s facilities,
bank and investment accounts and data. Once these controls are established,
Claybrook & Associates can begin the process of normalizing the entity
and identifying potential sources of recovery. We work with key staff,
policyholders, agents and investors to provide these stakeholders with
current information in an effort to inform and mitigate negative publicity
while a determination is made as to whether the company is a viable candidate
for rehabilitation, reorganization or sale.
When there are criminal investigations pending, Claybrook & Associates
works collaboratively with law enforcement officials to ensure that any
assets recovered will be dedicated to the victims of the crime, the claimants.
Our low profile approach helps ensure that security is maintained, confidentiality
is kept and the receivership is managed in the manner that is most beneficial
to the creditors of the company.
Our Services
Take control of books and records
Institute
financial controls over bank accounts and recording of financial
transactions
Inventory assets
Secure physical assets
Recover and secure
data
Identify owned vs. leased financial assets
Identify assets needed to continue services
the company provides
Investigate and pursue recovery actions to
collect assets, including claims under such existing insurance policies
as
fidelity
and directors and officers
Investigate and pursue recoveries against
professionals, including accountants, attorneys, actuaries and
stock brokerage firms
Notify potential creditors of the estate
Prepare and distribute Proof of Claim form
Receive claims from creditors
Review, adjust
and value claims
Seek court approval for value of the claims
Work with and coordinate with State insurance
guaranty funds and other third party payers
