Committed to maximising returns for clients in all manner
of recovery and subrogation challenges and on a global basis.
Our staff are on hand to provide you with invaluable assistance
in seeking recoveries from third parties.

Pequod Associates

Recoveries & Subrogation

Please feel free to explore the services, Experiences
& working practices we provide. To speed this process
up you can click on the section of interest to scroll down.

Our Company

The journey so far

Pequod Associates Limited are widely considered
to be industry leaders in the provision of
global recoveries & subrogation solutions

Founded in 2004

The company remains entirely independent being wholly owned & operated by staff

Hub offices

Located in London, New York & Singapore

Large Subro team

With over 600 years of combined direct service in the industry, including legal, P&I & seagoing experience

Large TPA

Freight liability and adjusting division in Ipswich

Staff & Languages

30 staff & 9 language sets; Brazillian Portuguese, Flemish, French, Italian, Lithuanian, Mandarin, Polish, Russian & Spanish

Current Cases

We currently handle over 2,000 recovery cases, all of which  are reviewed annually

Recovery Trends

Current trend recoveries of over USD 20m per annum

Our Clients

Our clients include world’s largest trading groups, insurance & broking companies

Case scope

Cases handled from USD 500 to USD 100m in value

Fee Structure

Fees are charged on a contingency fee (no win, no fee) basis

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Global Coverage

New York
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Our Company

Our Specialisations

Pequod has a breadth of experience in undertaking
recoveries for major global insurers, Lloyd’s of London,
global broking firms, assureds and captives in the following fields:





Fine Art & Specie

Freight Logistics Industry

General Average

General Cargo

Hi Tech Products

Marine & Hull

Oil & Gas Products


Project Cargo

Refrigerated Cargo



Stock Throughput

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Our Company

Our Offerings

Most Pequod recovery work is undertaken on NWNF terms. Fees are available upon request.
Almost 95% of Pequod subro work is successfully concluded with little or more usually no third party expenditure by way of lawyers or experts.

In circumstances where services external to Pequod are required:
• Usually to protect time limits or address specific circumstances of loss
• Such legal or expert expenditure is costed prior to instruction
• Upon client approval such costs will seek to be recovered from counter parties
• Any unrecovered costs will be deducted from the gross recovery before application of Pequod fee

Since development of our product in 2017 Pequod has funded almost USD 2 million in legal, counsel, expert and tribunal fees to enable cases with recoverable merit to proceed in circumstances where a client lacks either the appetite or cash flow to fund counter party recoveries.

The product attracts an enhanced contingency fee (charges provided on a case by case basis) but allows suitable recoveries to be run in otherwise cost prohibitive jurisdictions such as England, Singapore or South Africa.

The product has been of particular interest to insurers not wishing to maintain open-ended costs reserves, assureds who underwriters do not support their insurance or subrogation claim and clients are simply not prepared to fund full litigation or run the risk of exposure to counter party cost claims.

Pequod offers a range of “funding-lite” options.

These typically involve only a modest increase in the usual Pequod contingency fee in return for Pequod fronting certain fixed legal and expert expense as a means of driving recoveries more quickly to conclusion.

On such “funding-lite” modelling Pequod would be made whole on such third party expenditure, deducting such expenses from any gross recovery and charging an enhanced fee on the net balance.

The model is particularly attractive to insurance subscription markets (where advance collection of funds can be laborious), captives and high retention assureds.

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Our Company

Retentions & Deductibles

A growing trend in cargo insurance is the increase in the frequency and size of deductibles & retentions.

The upsides to such trending can be improved loss records and more competitive insurance pricing.

The downsides include more additional management time in direct dealings with customer claims and vetting and seeking recoveries from responsible parties such as carriers and warehouse operators.

Clearly, the larger the retention, the higher the potential volumes of uninsured claims.
Pequod offers solutions, both independently and in tandem, to manage this changing landscape.

  • Pequod’s recovery team will embed itself with a client’s existing claims processes
  • Recoveries from responsible third parties will be undertaken on a No Win, No Fee basis on either a standalone per claim or bordereau basis
  • A stream of income will be developed for the client
  • Data produced will assist the customer in its dealings with logistics operators, understanding trends & closely managing the threshold benefits of any retention versus insurance costs.

Our global TPA and claims management team have a range of products to manage high volume customer facing challenges. Work can be undertaken on a fixed per claim fee or annual retainer basis, improving the experience of clients & their customers with:

  • Rapid minimum documentation claims turnaround KPIs
  • Bespoke remote access database systems
  • Holding claim funds
  • The use of e-Cheques to improve the costs & customer experience of cash management

Pequod has had a range of successes in promoting these services. Relevant examples include:

Global Pharma Account
Undertaking all below deductible recoveries on an annual retainer basis and above deductible losses for insurers on the standard NWNF terms

Household Name Electronics Group
Stepping in on all recoveries above USD 5,000 where a carrier has not responded/ settled with 60 days, again on standard NWNF terms

US Importer/ Distributor of Plumbing Parts
Managing all claims from FNOL through to e-Cheque issuance, maintain a loss fund and recovering all carrier losses from ground-up values

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Case Studies

Your Global Recoveries Team

Andrew Bass

Managing Director

David Green


Rob Sweeting


John Clark


Juan Martinez

Regional Director

Andrius Vitas

Recoveries Manger

Karl James

Senior Adjuster

Elaine Page

Recovery Case Handler

Liam Carillo

Case Handler

Paula Bridge

Administration Manager

Our Offices

Pequod - UK

Suite 505
Coppergate House
10 Whites Row
E1 7NF


Tel: +44 (0)20 7953 8430

Pequod - USA

420 Lexington Ave
Suite 300
New York
NY 10170


Tel: +1 (212) 209 3939

Pequod - Asia

19, Keppel Road
#09-05 Jit Poh Building


Tel: +65 6292 0900

If you require further information about Recoveries

feel free to get in touch

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