“Not with Hurricane Michael claims” is the answer to these questions being screamed by policyholders, contractors and public adjusters. The blog title and questions were plucked from CJW’s website which also says most adjusters have a difficult time making accurate estimates but CJW does not because their adjusters “work ‘round the clock” to make accurate estimates:

Accuracy: how easy it is to claim (and most adjusters do). How difficult it is to fulfill.

At CJW, high accuracy and precise teamwork are a way of life. From in-depth analysis of the policy to determine the limits of coverage…to daily reviewing of exposures and minimizing the risks of over- or under-reserving. CJW’s seasoned TPA managers will work ’round the clock, if necessary, to make sure all data, files and reports are as close to the mark as is humanly possible.

But then, isn’t that just what you’d expect from masters of the craft?1

“Masters of the craft” is a pretty high ceiling and I look forward to exploring this claim in upcoming depositions. A number of their adjusters are pretty darn good at what they do. However, I would suggest if they hired more competent adjusters at higher salaries to do the job, claims would get promptly settled because they would have a sufficient number of adjusters to do the job at the level they advertise.

CJW’s parent, Sedgwick, seem to have a similar high standard:

From small buildings, oil refineries and critical infrastructure projects through to the construction of iconic buildings, we bring strength and stability as an independent construction expert. Our building consulting team offers a wide range of consulting services, from traditional cost estimating and scheduling to total project management.

“We have been the nominated loss adjusters on some of the largest and most prestigious building developments around the world. We are trusted because we understand what our clients need and provide the right experts where and when they are needed. With unrivaled Construction All Risk (CAR) and Engineering All Risk (EAR) expertise, we reduce claims spend by recommending a swift and appropriate course of action from day one.2

The truth is Sedgwick is not recommending “swift and approximate action from day one” of a claim and the policyholders they are hired to serve know it. Indeed, even if they were, the persons at the surplus lines carriers they are recommending it to must be at local pubs in London, nowhere to be found.

This week, though, the giant Lloyd’s of London insurance market, in the City of London, is setting out a new code of conduct: it felt it needed to remind people.

The 331-year-old institution, where brokers and insurers meet to do business, is regarded as the last bastion of the financial district’s boozy culture.

But after recent revelations of sexual harassment and general boorish behavior, Lloyd’s has decided to act.

Two years ago the institution banned its staff from drinking between 9am and 5pm. But this only covered about 800 direct employees.

Lloyd’s is made up of thousands more people and independent operators. The organization says there are about 40,000 pass holders who have access to the building.3

These claims institutions and their managers need to be reminded that they serve the public trust and their customers who are paying the premiums. That’s simply what we do—pointedly remind them and then make them PayUp!4

Thought For The Day

Go Gators!
1 https://www.cjw-assoc.com/tpa1.html
2 https://www.sedgwick.com/solutions/property
3 https://www.bbc.com/news/business-47858013
4 To be published this Fall.