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Monday, October 1, 2012 Taking Control – Managing CGL Claims
Controlling the Claimant – Panel Discussion Shawn Kirkpatrick, National Claims Manager BI/Casualty Economical Insurance James Giffen, Executive General Adjuster & Managing Partner, MGB Claims Consultants Inc.
How to Maintain Direct Control
How to avoid Lawyers!!!Taking food off of your table!!
Focus on claims < $50,000.00
Early timely intervention by Insurers/Adjuster
Building Rapport Consistent and timely follow-ups Face to Face is essential Pleasant but professional – avoid emotions
Tort is adversarial by nature YOU have done this to me Move to resolve issues with the Claimant before they become a dispute or adversarial
Claims professionals first and social workers second
Settling Directly With The Claimant
Know your client i.e. Property Management Firm Retailer/Commercial Cleaning Company (No Frills Vs. Holts)
Be mindful of the policyholder’s expectation and involvement of high SIR/product reputation.
Elasticity: Open minded big picture – legal cost cushion
Claimant doesn’t care about coverage issues Claimant doesn't want to discuss contrib. negligence
Recognize a 20% to 30% Contingency Cushion
Claimant’s expectation of economic heads of damage are generally small so be flexible
Frugal can be foolish There is no honour in trickery
Manage unreasonable expectations – too much T.V.
Try and balance when it’s the right tine to settle and document accordingly Consider interim payments
How An Insurer Can Get The Most Out Their Independent Adjuster
Need to understand the Insurer’s claims philosophy Be mindful of reserving Both sides must consider each others positions and recommendations Work them like dogs
Questions/Thoughts/ Observations/ Impressions???
Copyright © 2012, Big I Advantage®, Inc., and Swiss Re Corporate Solutions. All rights reserved. (Ed. 08/12 -1) E&O RISK MANAGEMENT: MEETING THE CHALLENGE.
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Careers In Insurance By: Haynes Tankersley. Actuary An actuary is a highly trained statistician with expertise in evaluating different types of risks.
LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.
PowerPoint Presentation by Charlie Cook The University of West Alabama Longenecker Moore Petty Palich © 2008 Cengage Learning. All rights reserved. CHAPTER.
Establishing the Regulatory Framework for Competition DAVID PARKER OHR/OECD Conference on Regulatory Governance and Network Industries, Sarajevo 19 April.
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TORTS: A Civil Wrong. Fairplay.org What is a Tort? A civil wrong A breach of some obligation Causing harm or injury to someone –Negligence –Libel Plaintiff.
111 Attendance at the two dates you are assigned is mandatory Presentation date Evaluation date Attendance at the other eight (8) class dates will count.
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Copyright © 2011 Pearson Education, Inc. All rights reserved. Behavioral Assessment: Initial Considerations Chapter 20.
© 2007 The McGraw-Hill Companies, Inc. All rights reserved.
THE PROJECT TEAM TYPICAL REQUIREMENTS AND RESPONSIBILITIES OF THE PROJECT TEAM TRADITIONAL TEAM ORGANIZATION AND VARIATIONS THE OWNER’S TEAM THE DESIGN.
RECENT DEVELOPMENTS IN PENNSYLVANIA BAD FAITH LITIGATION Presented to: BELL & CLEMENTS BELL & CLEMENTS APRIL 4, 2006 S. David Fineman, Esquire S. David.
1 Risk Management Bonding & Insurance Jimmy Porter Risk Analyst City of Atlanta.
The Fundamentals of Insurance Ch.32 – South Western 1997.
Milliman Asbestos Valuation 2004 Casualty Loss Reserve Seminar Las Vegas, Nevada September 13, 2004 Claus S. Metzner, FSA, FCAS, MAAA, Aktuar – SAV Actuary,
RISK MANAGEMENT ISSUES AND CONTRACTUAL OBLIGATIONS Curt Sumner, LS Executive Director, ACSM.
Diane M Barnes, CDMS,CCM,CMC Barnes Consulting, LLC What Your Third Party Administrator Should Be Doing For You.
Why work with a coach? Dr. Louise Y Driscoll President Coaching4Results, LLC.
Stakeholder And Issues Management Approaches
January 19 th, 2010 A Presentation to The Professional Credit and Financial Association of Calgary Ian Lydiatt InRisk Solutions Inc.
1. 2 Loss History Loss Trends – type and frequency Identify Strains, Tears and Pulls Number of Lost Time Claims Large Loss analysis - % of total cost.
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© Huron Consulting Group Inc. All rights reserved. Neither Huron Consulting Group Inc. nor any of its affiliates is a CPA firm. International Disputes:
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