Tag Archives: claims leakage

Are You Aware of Your Insurance Company’s Obligations When You Report a Loss? You May Be Surprised

I have noticed a trend that insurance companies are placing increasing burdens on their policyholders during the adjustment of claims. It is important for every policyholder to understand their duties and obligations under the insurance contract, however, it is just as important that insurance companies comply with their obligations. When a carrier fails to meet … Continue Reading

Many Insurance Vendors Write Scope and Price Higher or Lower Depending on Whether They Get the Job

Insurance contractors who write estimates for insurance companies with which they have close relationships have a conflict of interest. When contractors are not in league with insurers and they are making truly independent estimates they expect to complete without change orders, I find that the estimates are much higher and more liberal than when a … Continue Reading

Insurers Track Overpayments

A very fine insurance defense attorney, Brian Hunter, made a comment to yesterday’s post, Do Insurance Companies Overpay Claims? with the following observation: "Second, not only can claims be overpaid, they can be underpaid…." Assuming this is true, and it probably is based on the law of averages, how can we have any meaningful data? … Continue Reading

Claims Magazine and the CPCU Designation are Worthy Educational Investments for Claims Professionals

Motivated claims adjusters need to study, improve, and be noticed for their skills and dedication. The May edition of Claims Magazine featured two stories I found interesting for different reasons. One article every adjuster should read is "Designation Envy-Why CPCU Should Matter to You." The other article, "Emerging Transformed-New Challenges Create Opportunities for Independents," should be … Continue Reading

Is Claims Management Only Concerned About Overpaying Claims?

Our firm has a videotape somewhere in our library of a former State Farm adjuster that was known as a Claim Re-inspector.  He is now a public adjuster in Tennessee, still very religious, and a person I run into at conferences once in a while.  Every time I hear the term “claim leakage,” I think … Continue Reading