A major client purchased two layers of property facultative coverage excess of $5,000,000 through GJS Re on an account in the public buildings sector. Not too long after, it suffered a severe wind loss. Most property claims are resolved with a year or two. Not this one! The structures damaged were ornate and unique. Our client worked with general adjusters and local authorities as reconstruction plodded along. The claim was finally resolved to the insured’s satisfaction after six long years. When it came time to pay up, facultative reinsurers through GJS Re were quick to respond with their respective shares of all monies owed.
The client underwriter was afforded protection needed for what was a tough account to write. When the big loss did hit, GJS Re and facultative reinsurers delivered on their promise to soften the blow, even many years later!