Focus: Claims Management & Advocacy
Periodically, The Reschini Group will focus on a particular topic related to Risk Management or Property and Casualty issues. This month, we focus on Claims Management and Advocacy. Read on, and be sure to check out the resources available through the links.
Claims Management and Advocacy: A Game Changer
As in life, the business world accepts death and taxes as a certainty. But there is a third inevitability that must be added to that list when considering your business insurance program – claims.
Insurance brokers will often report claims but provide no management support to maximize the efficacy of insurance dollars, and no advocacy when a carrier denies coverage and/or the defense of a claim. This is the broker who renews your coverage but performs only minimal requirements until the next renewal.
At the Reschini Group, our team of professionals brings decades of underwriting, analytics and legal experience in the insurance industry. We report your claims to the appropriate insurance company, proactively manage the data and advocate for you when necessary. This year-round, value-added service provides you with the peace of mind that your insurance carriers will be called upon to meet contractual obligations and abide by legal requirements. The results can have a direct effect on your bottom line and truly can change your game.
Our team manages your claims by careful collection and analysis of your loss data. This approach creates an active, functional tool from which we can present options to determine the best program structure for your business. Whether you have a loss-sensitive, high-deductible/self-retention line or first-dollar coverage, our claims team advises you regarding loss history, trends in claim activity, and areas of opportunity for improvement. If a third-party administrator is involved, we provide a second set of eyes and work closely to ensure that quality, up-to-date information is always available. We do this in the usual course of business so you can make the most of the dollars you spend for this important business line item.
In terms of advocacy, the Reschini Claims Team reviews and analyzes coverage opinions and reservation of rights letters issued by your carriers. If push back is warranted, and you authorize us to do so, we will attempt to convince the carrier to reconsider and, ultimately, to reverse any adverse decision we feel is not sound. Although we cannot legally represent you, we can parallel our efforts with your attorneys and supply any necessary support in order that your rights are protected at a high level.
Effective Claims Management and Advocacy is vital to a successful business. Our dedication to high quality service in this area sets us apart from other brokers.
The professionals at The Reschini Group offer client’s guidance related to Claims Management and Advocacy. Contact Norman White or Doug Schwab at 724-349-1300 to set up a time to talk.
More About Claims
Read: Fair Share: Understanding Waiver of Subrogation
Get: Our Introduction to Claims Management
Get: Resource: In the Event of a Claim
Get: Accident Investigations Resource
Copyright 2017 The Reschini Group
The Reschini Group provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.