KMC On Demand(SM) and a key insurance industry advisory committee have released the second Property Technical Certification (PTC) program, which focuses on exterior loss adjusting. read more..
Sunday, September 30, 2012
Saturday, September 29, 2012
Underwriting Processes In Focus
Staying Current with the Latest Requirements
Some states have been busy this year adopting new and revised requirements impacting insurers’ underwriting processes. From credit scoring to hurricane deductibles to record retention, and other areas in between, these requirements need to be evaluated for potential operational impact. read more..
Friday, September 28, 2012
Comparative Negligence: The Million-Dollar Answer
Have you ever picked up a claims file and scratched your head as to how the adjuster arrived at their liability decision? Having run a quality assurance department for a large multinational insurer, I can say with certainty I’ve been in that position more than once. read more..
Thursday, September 27, 2012
Industry, Plaintiff Lawyers Support Bill to Streamline Medicare Secondary Payment Enforcement
A House panel has passed legislation, sought by both industry groups and plaintiff lawyers, designed to streamline enforcement of the Medicare Secondary Payment (MSP) program. read more..
Wednesday, September 26, 2012
WC Insurers Cautiously Bullish About Economic Growth
Workers’ Compensation insurers are benefitting from the continued growth in private-sector hiring and payroll over the past few years, but there is concern about a few dark clouds of economic uncertainty looming on the horizon. read more..
Tuesday, September 25, 2012
Parking Perils: Garagekeepers and Gunshot Damage
Most business owners who purchase Garagekeepers Legal Liability insurance are concerned about cars being stolen or vandalized while parked in their lots or garages. But sometimes there’s a much more serious twist—one involving gunshots and damaged cars. That was the case when one FC&S subscriber described the following unusual (and dangerous) situation. read more..
Monday, September 24, 2012
8 Unusual Insurance Coverages
A home, a car, a business: rarely do people own these without having insurance to protect them from the worst that can happen. But are you covered for what else can happen? read more..
Sunday, September 23, 2012
7 Questions About Remote Access for Independent Agencies
Saturday, September 22, 2012
When Wrecking Balls Strike
Another look at how to protect against these human disasters
In June’s column, I described a type of person I call a “wrecking ball,” someone who crashes in on a previously orderly life or business and creates chaos. To recap, a wrecking ball is a claim generator, a frequent flyer on E&O Airways. read more..
Friday, September 21, 2012
Take It Easy: Three Tips for Ease of Doing Business
The September issue of Tech Decisions will include an article I wrote about the carrier/agency relationship and the term those two sides love to debate: ease of doing business. read more..
Thursday, September 20, 2012
Hunt and Gather
Discover what your clients want with new social media tools
Do you remember George Orwell’s novel “1984” and its prediction of the all-powerful, all-knowing Big Brother who knew everything you did and thought? Well, 1984 came and went and, for the most part, we all laughed it off as silly paranoia. read more..
Wednesday, September 19, 2012
Two Claims Commandments That Must Be Obeyed
Handling Investigations and Communications with the Insured
Commandment I: Thou Shall Always Conduct A Thorough Investigation
Investigation is a search for truth. It is an art form where facts are established. It has been defined by the state of California, for example, as follows: read more..
Tuesday, September 18, 2012
Monday, September 17, 2012
Sunday, September 16, 2012
No surprises
Checklists, face-to-face meetings and visual inspections prevent surprise claims
“Nobody likes surprises.” We hear these words often and in so many phases of our lives. A surprise means someone either didn’t do his homework or did not communicate in a timely fashion. read more..
Saturday, September 15, 2012
Unconventional wisdom
Supreme Court decision sends healthcare law to voters
While it seems as though every institution in the nation’s capital leaks information like a sieve, the U.S. Supreme Court is sealed tight. No information gets out until all the justices say so. It’s amazing and refreshing. read more..
Friday, September 14, 2012
Feelings vs. Logic: How They Relate to Insurance Distribution Channels
Nort Salz, president and co-founder of Deep Customer Connections, believes the great insight the world received from psychology over the last century is that we are feeling beings who are helped by logic; not logical beings helped by feelings. read more..
Thursday, September 13, 2012
Analyzing Injuries Sustained In Low-Speed Accidents
Do the alleged injuries fit the vehicle damage? Does the force of the crash equate to the probability of injury? There are many ways that the vehicle helps you determine the force of the crash. In this article, we'll discuss the role of the biomechanical engineer in evaulating injury claims stemming from low-speed accidents. Based on the expert's conclusions, the claims adjuster can gauge the veracity of alleged injuries to make smarter coverage determination decisions. read more..
Wednesday, September 12, 2012
The Art of Negotiation in Claims
One of the most basic elements of the claims process is that of negotiation. So why is it that so many in claims organizations struggle with effective negotiations? Part of the problem is that the role of adjusters has evolved over the years. Prior to the advent of technology, adjusters primarily spent their time with boots on the ground. read more..
Tuesday, September 11, 2012
DOJ Language Crushes BP Oil Spill Settlement Hopes
LONDON (Reuters) - Hopes BP can settle early out of court on liability for its 2010 U.S. Gulf oil spill looked forlorn on Wednesday after U.S. prosecutors laid out a legal case for gross negligence on which tens of billions of dollars hang. read more..
Thursday, September 6, 2012
Vehicles “Held Hostage” by Towing Companies; Ransom Set for Half-Billion a Year
PCI report exposes high cost of abusive towing and storage in U.S.
The National Highway Traffic Safety Administration records approximately 16 million traffic crashes in the U.S. each year, resulting in 10.9 million tows. Expenses related to towing and storage of these vehicles in 2010 was $412 per claim, or about $4.5 billion a year. It follows that abusive towing practices can cause major insurance headaches. read more..
Wednesday, September 5, 2012
6 Agency Lessons I Learned in the Army
As a property and casualty insurance agency co-founder, I apply lessons I learned while serving in the U.S. Army. Some lessons are general in nature, such as the need for discipline, personal accountability, orientation on team goals, a clearly defined mission and state-of-the-art tools. Others are more specific. read more..
Tuesday, September 4, 2012
Bring Home The Gold
What Claims Organizations Can Learn From the Summer Olympics
The U.S. again has garnered worldwide acclaim for success in the 2012 London Olympic games. While there were some questions early on about Lady Liberty’s ability to outperform the Chinese, there was no doubt in the end as to the prowess of our nation’s Olympic athletes. read more..
Monday, September 3, 2012
Remembering Hurricane Andrew: 20 Years Later -- Slideshow
Twenty years ago on Aug. 24, Hurricane Andrew landed in Florida and taught the insurance industry lessons it still adheres to today. The industry had underestimated the power of Mother Nature and in doing so, felt it was prudent to provide coverage for an inordinate amount of coastal property. read more..
Sunday, September 2, 2012
Top 10 Stolen Cars in 2011: NICB Hot Wheels List
The National Insurance Crime Bureau (NICB) named the top 10 most stolen vehicles in the country in its annual Hot Wheels list. The report examines vehicle theft data submitted by law enforcement to the National Crime Information Center and then determines the vehicle make, model and model year most reported stolen both nationally and by state. read more..
Saturday, September 1, 2012
Mind Over Meds
Meditation may help in reducing the rising costs associated with using narcotics to manage long-term pain from on-the-job injuries
The overuse of opioid therapy in the U.S. to treat chronic pain is reaching an “epidemic” level, according to the American College of Occupational and Environmental Medicine. read more..
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