Paragon provides specialized reinsurance and/or third-party administrative (TPA) services to the federal government and 16 state insurance departments. We facilitate partnerships among multiple P&C insurance carriers to address a range of public policy issues, including catastrophic coverage in the wake of natural disasters and continuity of coverage following insurance company insolvencies.

Services for State Insurance Departments
We provide a variety of services for state insurance departments, including:

• Monitoring, analyzing, and improving reinsurance administration for our clients’ insurance operations
• Maximizing the assets of insurance companies that are currently in rehabilitation or liquidation
• Developing, analyzing, and negotiating commutation settlements to maximize recoveries or minimize liabilities, ultimately helping to bring closure to the estate

Our government clients benefit from reduced expenses, faster reinsurance asset recovery, and improved quality and availability of reporting data.

Services for Pool Administrators
Paragon offers extensive expertise in administering reinsurance and risk-pooling mechanisms – from developing procedures, to monitoring participants, to facilitating statutory and management reporting. Whether supporting start-up, ongoing or run-off pool operations, we address the unique needs of pool administrators, and provide improved efficiencies and cost-effective administration.

Paragon has significant experience in reinsurance pool administration, with an established client base for more than a decade. We recognize that each assumed and ceded pooling arrangement is unique and has its own intricacies and complexity. Paragon has a tenured staff with a depth of reinsurance knowledge and a consistency of team members on accounts, both of which have contributed to our proven track record of success for and with our clients. We have proven to be flexible and responsive to the needs of our clients and are able to offer customized pool management services, whether to the government or private entities. Paragon provides its pool clients with a complete pool administration reinsurance solution and enables us to be a provider of choice.

Paragon is the government-appointed administrator for several large reinsurance and risk-pooling mechanisms, including the federal Terrorism Risk Insurance Program (TRIP) and the Florida Hurricane Catastrophe Fund (FHCF).

The Terrorism Risk Insurance Program (TRIP) provides a transparent system of shared public and private compensation for insured losses resulting from acts of foreign terrorism in the United States. Its purpose is to protect consumers by addressing market disruptions and provide "insurance for terrorism risk". Paragon created the processes and infrastructure needed to support the US Department of the Treasury and the insurance community in the event of a certified act of terrorism. Paragon's services include claims administration systems, statistical analyses, routine and ad hoc reporting, and general program support.

The Florida Hurricane Catastrophe Fund (FHCH) is the largest monoline catastrophe reinsurer in the world. Services provided by Paragon include: claims reporting and processing (over $8 billion claims payments issued from 2005-2007); contract/renewal processing; data analysis (over $2 trillion analyzed in 2007); database development and maintenance; financial statements and management reporting; loss reserving; online reporting system design and management; premium billing and collections (over $1 billion in 2007); ratemaking; technical and cash accounting; and website management.

Paragon recognizes the complexities of pool administration and tailors our services specifically to address:

• Multiple, non-affiliated stakeholders
• Multiple clients, with each stakeholder having its own interests (for example, ceding companies, Boards of Directors, regulators)
• Collection and integration of data from multiple sources
• Dissemination of information to multiple entities in varying levels of detail
• Management and support of regulatory filings
• Monitoring ceding companies and tracking participants

Paragon’s experience in all aspects of P&C insurance and reinsurance operations – and our track record of helping clients implement Best Practices throughout our industry – has given us the opportunity to participate in government service and to assume an honored position of recognized industry leadership.