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A vibrant source of revenue, subrogation is often under utilized. Learn how to maximize its benefits as the author makes the case for why recovery requires specialized skills and why perceptions and protocols should be re-examined. ...

If prior instances of contamination related to products made in China prove to be any indication, then these recent discoveries of cadmium-tainted children’s jewelry are likely to result in extensive litigation....

What irks claim professionals the most? One attorney weighs in on common beefs, from ignorant defense counsel to difficult claimants. ...

When managing large or complex business enterprises, does a centralized or decentralized approach provide the best outcome? One company details its successful journey in workers' comp claim management. ...

In light of the recall of virtually millions of vehicles, Toyota executives find themselves in a nightmare, and the ramifications are not yet clear. Historically, recalls of this magnitude will continue to be far-reaching. ...

Insureds may retain the services of public adjusters due to the perception that insurers do not fully disclose and fulfill the promises of the insurance contract. As the author points out, the first step to resolution is cooperation amongst parties. ...

An estimated 64 million U.S. dwellings contain lead-based paint. To avoid claim issues and litigation, adjusters must be properly trained to handle potential damages and safety concerns....

In response to high fuel prices, several car makers are introducing a smaller class of vehicles. But these cars may be prime candidates for totaling out, and the potential impact of more total losses on the collision repair marketplace could be huge....

The timely notice of claims is generally an express requirement of an insurance policy. However, the modern trend by U.S. courts and legislatures has been to diminish “late notice” as a defense to coverage. ...

Insurers are using relationship analytics to identify and confront factors affecting customer satisfaction while forging solutions, which may include changes in personnel, processes, and vendors....

In light of compliance challenges, insurers need technologies to help establish sound governance models to ease documentation and lower operational risk. One such technology solution is master data management (MDM). ...

We all know that effective claim adjusting leads to successful business outcomes. Here, the author explores traits and proficiencies of adept adjusters and how to identify those characteristics during the hiring process....

The title “business analyst” has been misappropriated by IT and needs to be returned to the business side. Who would have thought that a simple misnomer would have such far-reaching consequences? ...

Corporations occasionally become parties to lawsuits in which the plaintiffs named the wrong entity as a defendant to the action. In those instances, the wrongly named corporation’s insurer still has a duty to defend the action. ...

When coupled with predictive modeling, risk analytics provides insurers with rapid access to the information needed to better manage the overall claim process and identify and understand risk. ...

Maintaining compliance with state and federal legislation can be challenging, given the volume of potential violations. Without accurate addresses, phone numbers, and e-mail information, insurers are making themselves vulnerable....

When a procurement process in the City of Phoenix resulted in the selection of a new TPA to manage the city’s workers’ compensation claims, the transition process was a major undertaking....

Businesses opting to share space with others may not be attuned to certain risks they are incurring as a result. Adequate planning and discipline will help businesses and their insurers avoid many of the risks inherent in this arrangement....

Analytics ensure that adjusters are devoting their time to claims where they have an opportunity to impact the settlement. This means that the leadership team can redirect their attention to monitoring trends and impacting results. ...

Multi-channel fraud not only results in added expenses for bogus claims but also in the corruption of vital data on which underwriters rely. Certain tactics can help insurers to actively monitor the claim process for collusion and reduce costs....

There are many ways to deliver service that exceeds customers’ expectations and favorably impacts the bottom line. Practicing empathy and looking for subrogation opportunities will help you add value each and every day....

At times, insurance carriers decide that — for any number of reasons —they need to divest themselves of certain insurance policies, books of premium writings, or lines of business. ...

Liability claim adjusters need to carefully weigh the characteristics of the jurisdiction where litigation would take place. ...

Improving the claim adjustment process hinges on building a fully integrated bridge between the carrier’s internal IT system and the independent adjusting firm’s system. ...

The key to managing the risks of ATV coverage is to understand the machines, their back story, and the essential elements of a typical ATV accident investigation. ...

Flexibility remains a critical aspect of quickly responding to changing fraud patterns. It is crucial to dynamically expose new patterns of fraud without having to re-program, re-train, or re-invent the underlying systems. ...

Claim operations help shape financial performance as well as define the customer experience. Insurers are looking to claims to improve customer retention, enable growth, and enhance service levels. ...

Property and casualty claim data indicate that the insurance industry spends billions of dollars each year removing fallen trees and shrubs (trees) from insured structures and properties....

Automation is becoming an operational necessity, as customers expect hassle-free service. Embracing data analytics and self-service options can help insurers realize breakthrough efficiencies while enhancing customer service....

Insurers must prepare for an expected increase in catastrophic losses arising from climate change. Key strategies will incorporate prudent risk selection, accurate claim reserving, and technology adoption. ...

Rate evasion costs personal lines auto carriers more than $16 billion each year. But insurers can still bolster profitability and identify risks by employing various detection tools and resources....

Keeping up with regulatory requirements, CPT codes, and changing fee schedules can cause even the most experienced workers' comp claim adjuster to become overwhelmed. ...

Scenario analysis facilitates business decisions by taking into account a number of potential developments and possible future events in business environments. ...

While the good news is that the majority of lawyers do not engage in overbilling practices, prudent insurers need to take definitive, defensive steps to guard against becoming the victims. ...

The severity of hurricane-related losses can vary drastically — challenging insurers to be prepared for the unknown at all times. Here's how insurers are successfully adjusting to evolving risk exposures and policyholder needs....

With rapidly shrinking profit margins, deteriorating investment portfolios, and pervasive economic uncertainty, where better to focus attention than on the claim department, an internal and controllable value protection resource? ...

Bicycle mishaps can result in claims for serious injuries and lost wages. Such damages reflect a significant exposure to a carrier and justify a comprehensive bicycle accident investigation ...

Adjusters and forensic accountants will need to be on the top of their game in the coming months and years....

Matters to consider when investigating construction-defect losses....

New mandatory Medicare claim reporting requirements set forth a compliance timeframe to which many property and casualty must adhere....

Predictive analytics empowers claim handlers, underwriters, insurance brokers, customer service representatives, and others with the predictive insight to create value from underutilized data to improve customer interactions....

Regardless of whether or not workers’ comp claim numbers go up, cost-cutting measures are the order of the day in all areas of operation. Claim management is no exception....

With carriers struggling to remain profitable even with a hardening market, there is an increased focus on performance improvement across all operational areas. This is especially true in claims, typically an insurer’s largest expense area....

It is clear that the time has come for both carriers and self-insured entities to adopt specialized means by which to investigate post-termination claims and address this emerging crisis head-on. ...

In the reinsurance world, when a dispute ensues between the same parties regarding one or multiple claims that arise under multiple treaties, a host of contentious issues can develop. ...

It is estimated that more than three million policyholders will total their vehicles in 2009 and be shoved into the car buying market. Given the current state of the automotive industry, dealers are chomping at the bit to serve these customers....

At ACE, Joseph Werhle, NICB president and CEO, will discuss their integrated plan to focus on five core disciplines while helping insurers discern the many unsavory flavors of fraud....

Claim management has increasingly become an area for strategic innovation, with focus on claim-related business and technology initiatives to improve customer service, total claim results, operational efficiency, and staff retention. ...

The process of hiring an expert is something of an art and not so much science....

Fortunately aircraft incidents and accidents are rare, but when a plane lands safely without seriously injuring any passengers, it hammers home a lesson — training can pay off....