Sidecar - Policy Detective
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Sidecar

An alternative to traditional retrocession. Described by AM Best (2006 Annual Global Reinsurance Report, p.12) as the offspring both of investors looking for risk with potentially high returns and of reinsurers/insurers strapped for capital after the catastrophe losses [in the 2005 Atlantic hurricane season]. Used mainly for property and marine catastrophe reinsurance, but have also been created for life reassurance. Thought to have been first used in 2002. A sidecar is set up as a special-purpose vehicle (SPV – cf. also ISPV) with a defined purpose and limited lifetime. They are capitalised by third-party private investors – primarily hedge funds – and usually sponsored by a larger re/insurer. An SPV generally provides the sponsoring re/insurer with extra capacity through catastrophe quota-share or excess-of-loss reinsurance on an exclusive basis. It is also a way for a re/insurer to move selected – usually catastrophic – risks off its books while earning underwriting fees from the sidecar.

Do you have old policies lying about? Perhaps it's a term or whole of life insurance, pension, endowment, bond or an annuity policy. Or do you receive statements for a policy which you are unsure about? Why not use Policy Detective to find the answers.

Which company now looks after your policy? Who can you contact about your policy? What do all those words and phrases on my policy document actually mean?

Policy Detective is a UK company for UK customers. We help you to track-down the Administrators for policies which you or your loved ones may have in the bureau or the attic. You never know how much money there could be in that old policy. It's not easy to find this information, as companies through time are taken-over, merge with other companies and even change their names. We can help you find the company which now deals with your policy. Some companies even allow us to check the status of your policy.

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