Send this letter to your insurance company if someone is making a claim that you are responsible for the repair or replacement of property and believe your insurance company is obligated to adjust the claim under your policy.
The handling of express claims is receiving significant industry attention as it begins to deliver major contributions to customer satisfaction and reduced claims cost. While insurance pricing may have been the hot topic over the past years, responsive and efficient express claims handling is the focus of executive attention. Studies...
In this paper, the American Land Title Association ALTA has shown the results of a recent industry study showing that title insurers paid approximately $661.7 million in claims in 2003, compared to $582.7 million the previous year. These payments were made to, or on behalf of, insured homeowners for losses...
One of the basic principles of insurance is that the premiums paid by the many should cover the costs of the claims made by the few. In today's claims conscious environment however the cost and numbers of claims, particularly liability claims, has risen so sharply that the size of the...
Insurance is one tool you have to protect yourself from claims made by customers, employees and the public at large. Each business has its own unique characteristics, which are indicators of the types of claims they are most susceptible to incurr. Even if your company has done nothing wrong, the...
Critical eye over claims handling, a business that is weighed under with inefficiencies, and suggests where technology can help to alleviate some problems. The longevity of the business model suggested in this article is questionable, primarily due to today’s volatile stock market and the uncertain global economic climate that prevails....
This paper describes how the claims process works, as well as what to do if customer were not satisfied with how the claim is being settled which will help the customer get the most from insurance dollars. Every state has a Department of Insurance that regulates the claims process. There...
This paper proposes a model-based approach for capacity planning in information-intensive services, one of the largest and rapidly growing segments of the economy. Using example of insurance claims, the paper notes that for most types of claims, their closing age is driven by delays in collecting information and not by...
Metropolitan Life Insurance is the largest life insurer in the United States with approximately $2.1 trillion in life insurance in force as of December 31, 2001. MetLife had not invested in the latest technology for processing claims. As late as 1999, however, most of its claims processing was paper based...
While documented cases of clergy sexual abuse are tragic and deserving of compensation, all claims nonetheless require scrutiny. False, fabricated and exaggerated claims do occur. Even if such claims are ultimately defeated, though, the defense costs can be substantial and the damage to those falsely accused can be permanent.Risk managers...
The claims handling process is the engine that drives the insurance industry. Given the state of the insurance industry, the time is right to look at new ways to streamline and bring best practices to the claims process. While the art of claims handling can be enhanced and supported via...
The attacks of September 11 stand to generate hundreds of thousand of property and business income claims. For each of those claims, insurers will be tasked with determining whether each claim satisfies the basic policy requirements governing the loss. In the case of business income claims and related claims for...
This article focuses on the claims U.S. banks held on emerging-market counterparties during the two year period from June 1997 to June 1999 and discusses the different ways that emerging-market claims can be analyzed. In addition, the article provides a short analysis of the claims held by other developed country...
The sue and labor clause is clearly a subject of keen interest for organizations seeking to recover some or all of the cost of making Y2K repairs, and a major concern for insurance companies. This article will attempt to explain both sides of the Sue and Labor clause issue and...
The September 11 terrorist attacks created what is perhaps the largest business interruption event in history, as measured in the number of claims, the magnitude of damage, and the complexity of adjusted losses. Of the tens of thousands of businesses that were disrupted by the catastrophe, many will be filing...
WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell last week for a second week in a row, the government said on Thursday, though they continued at levels that showed a weakening labor market. The Labor Department...
Disgraced Olympic sprinter Ben Johnson plans to sue his former lawyer's estate for C$37m (19m), alleging that Edward Futerman took advantage of his "diminished mental capacities". Johnson is seeking to amend a claim, filed last year, in which he asked for C$9m in damages. Johnson alleges the late Futerman "ambushed"...
To say that this has been a surprising presidential campaign with many twists and turns over the last 18 months is a gross understatement. A year ago, Sen. John McCain's candidacy had been written off by the political pundits and former Mayor Rudy Giuliani was leading the...
U.S. District Court, Norhern District of New York Conspiracy Disability -- Constitutional Rights Brady v. Dammer 04-CV-1126 Judge Kahn Background: The plaintiff's lawsuit arises out of her employment with the...
General Motors loses $15.5bn in sales slump *The meltdown in the global car industry claimed more victims yesterday as General Motors lost another $15.5bn (8bn), BMW warned on profits and Nissan earnings failed to meet expectations. GM's quarterly loss - the third-largest in its history - came...
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