The Citizens Property Insurance claims management provided a number of reports to the Citizens Board of Governors yesterday. For readers of this blog and policyholders who want to know what Citizens thinks of its claims handling, I suggest that you read the various reports which I have attached to this post.1
Continue Reading Is Citizens Property Insurance Giving You a Hard Time with Your Insurance Claim? Here Is Why, Based on Statistics Provided by Citizens Claims Management
Documenting Your Claim: Preparing for Litigation During Claims Handling
Below is a conversation I have all too often with insureds:
Insured: I just received a letter from the carrier that they are denying my claim.
Attorney: I am sorry to hear that. What was the basis for the denial?
Insured: The basis for the denial was _____. However, the insurance adjuster told me that this would be covered when he was at the property.
Attorney: Great. Did you document the representation in writing?
Insured: . . . . .
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Why Do Property Insurance Claims Handlers Do This Line of Work? Why You Should Switch To Public Adjusting and Help People – Today on Tuesday At 2 With Chip
There are numerous articles about why our younger and brighter people in the United States do not want to be insurance company claims adjusters. Most start like this:
The insurance industry has a lot of open positions, and it’s scrambling to fill them. It’s targeting millennials, but many simply don’t consider insurance as a potential career — or think it’s boring. A recent survey from The Hartford showed that just 4 percent of millennials interviewed were interested in insurance is a career.1
Continue Reading Why Do Property Insurance Claims Handlers Do This Line of Work? Why You Should Switch To Public Adjusting and Help People – Today on Tuesday At 2 With Chip
Caselaw, Statutes, and Treatises All Agree: Insurers Have a Duty to Fully and Thoroughly Investigate Each Claim in Good Faith
Within every contract, the parties involved in the relationship have duties and obligations they owe one another.
Continue Reading Caselaw, Statutes, and Treatises All Agree: Insurers Have a Duty to Fully and Thoroughly Investigate Each Claim in Good Faith
Delayed Insurance Claim Payment in Alabama? Insurance Companies Must Timely Respond To Alabama Policyholders
In Part 1 of this series, I addressed general requirements for the insurance carrier’s adjustment of claims. Here, I want to focus on communications between the policyholder and the insurance carrier.
Continue Reading Delayed Insurance Claim Payment in Alabama? Insurance Companies Must Timely Respond To Alabama Policyholders
Why is Your Insurance Claim Underpaid? Many Insurance Companies Reward Adjusters Who Pay Less on Claims
If a picture is worth a thousand words, the above chart is exhibit one about how insurance claims executives feel about claims adjusters that pay more versus paying less to their policyholders. Policyholders often have their claims underpaid because insurance companies reward those claims adjusters who underpay claims. The rewards come from a view and promotion of “high performer” adjusters that pay policyholders less are better adjusters than those who pay policyholders larger and fuller amounts.
Continue Reading Why is Your Insurance Claim Underpaid? Many Insurance Companies Reward Adjusters Who Pay Less on Claims
Premier Insurance Broker Irene Ochoa Responds to Jon Held and Notes That Policyholders Need Protection
Should insurance brokers and executives running insurance companies stand up for their insurance customers? While the comments section is sometimes passed over, I noted that a premier insurance broker, Irene Ochoa, stood up for insurance customers when responding to an article in Claims Journal, Viewpoint: J.S. Held CEO Refutes ‘Claims Surrogate’ Label.
Continue Reading Premier Insurance Broker Irene Ochoa Responds to Jon Held and Notes That Policyholders Need Protection
Arizona Claims Handling Guidelines at a Glance
Similar to other states, Arizona has adopted unfair claims settlement practices statutes and regulations. While one cannot a bring a private cause of action under the Unfair Claim Settlement Practices Act1 and its companion regulations, they lay out specific standards for insurers to promptly investigate and process claims.
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“Running and Gunning” Versus “Pay More Equals Greater Pay Incentive”
The “do as much as you can in the aggregate” incentive for adjuster profit maximization versus “estimate more on one claim and get paid more” was the debate in 2015 Congress following Superstorm Sandy flood insurance debacle. This blog followed the last two posts, Churn and Burn Adjusting—An Admission From An Independent Adjuster, and Is “Running and Gunning” Adjusting the Same As “Churn and Burn” Adjusting?.
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Is “Running and Gunning” Adjusting the Same As “Churn and Burn” Adjusting?
David Charles was a whistle blower about wrongful claims conduct long before yesterday’s post, Churn and Burn Adjusting—An Admission From An Independent Adjuster. In a 2014 post, National Flood Claims Do Not Get Paid Properly Because the Only Incentive is to Underpay, I noted that David Charles described a method of claims adjustment – running and gunning – which is very similar to the one posted yesterday about “churn and burn” adjusting:
Continue Reading Is “Running and Gunning” Adjusting the Same As “Churn and Burn” Adjusting?