After A Disaster…

ABA Banking Journal asked me to put together some ideas that bankers can use to advise customers who have experienced a major catastrophe...Hurricanes, floods, tornadoes, grass fires, and hail storms affect whole communities. Your bank customers may come to you for advice. Here are some points that may help with those conversations, whether your … [Read more...]

Two Extremes From Hurricane Sandy

Talking with an insurance broker with a huge nationwide list of clients - condos, office buildings, and apartments."How'd your clients do in Sandy?" I asked, reluctantly."Not a single claim," he replied.Speaking to another broker a few days ago, I asked the same question."We insured the Bounty," she said. … [Read more...]

Bad Insurance Agents

OK, I am catching up on my reading of the insurance information service, FC&S (National Underwriter Company).A few minutes ago I blogged about bad adjusters.  Now its my turn to take a swipe at agents.Here is the question asked:A hit-and-run driver hit a car, which in turn was pushed into a building. The building and the personal property inside … [Read more...]

Bad Claims Adjusters

Bad claims adjusters are a plague on all our houses.Insurance adjusters are to be the front line of the insurance transaction - the part of the transaction that we all buy insurance for - claims service.Here is a letter sent to the insurance information service, FC&S (National Underwriter Company): "I am working on a complaint that involves whether … [Read more...]

State Claim Guidelines

Claims Magazine has compiled a list of state specific claims laws. Learn what your state requires your insurance company to do.Go Here … [Read more...]

Claim Contact Phone Numbers

Right now.  Before you do anything else, send an email to your insurance agent requesting the current claim hotline number for your insurance companies.(If you're an insurance agent reading this, why not send the claim hot-line numbers to your clients as a service.)When the agent gets you the phone number call it to be sure you have the right … [Read more...]

Fast Work Comp Claims

All your employees should know the importance of fast reporting of any claim.The quicker you get your employee help the better the outcome.  There is no downside to fast reporting.Employees should know how and to whom claims should be reported.  Have a very specific process that is well documented and reinforced.  Make sure your work comp insurer … [Read more...]

When Do You Report Claims?

I just read an interesting article written for insurance agents on when to report claims to insurance companies.In 750 words the "insurance expert" said to report all claims. (So much for succinctity!)My advice to insurance buyers:-Anytime you may have injured someone or damaged their property, report the incident.-Anytime someone threatens to sue … [Read more...]

How To Survive Big Property Claims

Advice for large claims where you are working with your insurance company - usually property claims - fire, wind, flood... Document every action you take and every discussion you have. Confirm all phone conversations with your agent or the adjuster by email. CC the agent on all emails to the adjuster. CC the adjuster on emails to the agent. … [Read more...]

Work Comp Claim Process

To effectively manage work comp claims you must have a clear claim reporting process. Make it easy for employees to start the ball rolling. Put claims forms on your company intranet. Train and re-train everyone on what to do if they are injured on the job.Most workplace accidents and injuries are not dramatic, public spectacles like a crane … [Read more...]