Featured Articles

12/26/2013
Claims Around the World
Claims Management – December 26, 2013
A global retrospective on claims-related legislation in 2013.

"As we look toward 2014, it is important to consider events this past year that will affect the claims management industry next year and on an ongoing basis—not only in the U.S. but also globally. A number of companies in claims management are multinationals, and having significant international operations requires that they be well informed of claims-generating events and regulatory laws affecting claims not only in the U.S. but also in each country where they have operations. While many countries have similar laws and regulations—as countries often adopt legislation first enacted in other nations—certain insurance and claims regulations can be unique…”
09/19/2013
The Growth of Contractor Networks
Claims Management – September 19, 2013
Many insurers and third-party claims managers have extended the function of the claims process to include a contractor referral program.

“The claims management process consists of a number of elements linked by activities and multiple entities. The insured, policy, insurer, originating occurrence for the claim, adjuster, adjuster’s claim evaluation, final claim determination, and settlement are all basic pieces of claims management, with more complex subprocesses taking place throughout the overall process.

When considering the claims management process, it has been common to think of its endpoint as the financial settlement; the resolution of the claim occurs once payment is presented to the insured and the file is closed. As insurers have competed more intensely for the same customer base, policyholder retention has become more critical, and their range of services has expanded…”
03/22/2013
Alternative Dispute Resolution for Claims: Lessons from Three Storms
Claims Management – March 22, 2013
Crawford & Company analyzed its ADR activities and outcomes focusing specifically on disputes arising from the damage caused by three successive weather-related events in a single year—Hurricanes Katrina, Rita, and Wilma. Here are our key lessons gleaned from it.

“Alternative dispute resolution (ADR) includes various forms of dispute resolution that do not involve the court system at the local, state, or federal levels. As a process, ADR usually includes several elements, such as neutral third-party evaluation, negotiation, resolution meetings, mediation, and binding arbitration.

During the period from 2005 to 2008, Crawford & Company analyzed its ADR activities and outcomes focusing specifically on disputes arising from the damage caused by three successive weather-related events in a single year—Hurricanes Katrina, Rita, and Wilma, which all occurred in 2005. Collectively, it is estimated that these three storms were responsible for more than $150 billion in economic damages…”