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CCarr
Canada
1200 Posts |
 Posted - 05/13/2003 : 12:39:07
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Following "how the pie was split ...." thread, I have received a few emails asking that this type of information be made available on a more regular basis. In the interim, I have received a bit more data on the ISO event that we tried to do a survey on, plus some general marketplace information.
Some of you may be familiar with all of this. However, there is likely a sufficient number of people that are not aware of some of it or all of it; to make it a potentially worthwhile ongoing information project. Hopefully, everyone can give it whatever consideration they feel it is due, and plan their marketing and training needs around the things that are happening in this - your marketplace.
If the information is mine, I may acknowledge that, but by and large the information that comes to me is with confidentiality assured by me to the sources. Therefore, please recognize, that I am merely the messenger, who has taken no steps to confirm or verify any of the information sent to me by email or PM.
Pilot Catastrophe -
Pilot's "sweetheart" deal with Allstate (handling up to 90% of their field cat claims) has been diluted significantly since 2001; seeing their volume decrease to about 50%.
Pilot like other cat vendors, are aggressively seeking new markets, American Family being one.
Farmers Insurance Group (FIG) -
This group carries on business under three company names; Fire Insurance Exchange, Farmers Insurance Exchange, and Texas Farmers Insurance Company.
Their cat vendors are; Wardlaw, Eberl, and NCA.
Wardlaw was the dominant cat vendor, but when Zurich purchased FIG, their dominance diminished to that of one of several vendors.
In the recent April ISO cat event in Texas, FIG called for 80 Wardlaw adjusters. These 80 deployed Wardlaw adjusters were 'met' by 80 staff cat adjusters from FIG. Wardlaw adjusters only received about 40 - 45 claims each from this deployment.
FIG's own staff cat team - headquartered in the Kansas City area - currently stands at about 140 people.
Crawford supplies staff assist adjusters for FIG.
Continental Satffing is currently providing FIG with about 100 'inside' adjusters (mostly in Texas) to handle mold claims.
FIG has recently introduced its version of the Allstate "roof process" method of handling hail losses.
Add edit #2:
American Family Insurance Group (AMFAM) -
AMFAM is the 10th largest property & casualty insurer in the USA, operating in 17 states.
From their recent news releases, they have dispatched catastrophe teams as follows; for both property and auto claims.
May 9th - DeSoto, MO - tornadoes, wind & hail; approx 4,000 claims
May 9th - Jefferson City, MO - wind & hail; approx 2,500 claims
May 8th - Waterloo, Iowa - wind & hail; no report of claim volume
May 5th - Kansas City, MO - tornadoes; approx 2,700 claims
May 5th - Omaha, NE - wind & hail; approx 2,500 claims
May 5th - Springfield, MO - tornadoes; approx 2,100 claims
April 5th - St.Louis, MO - wind & hail; "thousands of claims expected"
In late 2002 and early 2003, AMFAM required their claim vendors to have their adjusters certified through the new AMFAM Basic & General certification courses. All adjusters so choosing to participate, incurred the cost of time and money to comply.
AMFAM then reportedly set their new fee schedule for 2003, at 33% less than 2002 rates, and increased file requirements.
The first large storm in the St.Louis area in April, saw 50 adjusters deployed by a vendor for AMFAM. Within 3 days, 15 "key" adjusters walked out, followed by another 10 soon after. These were reported to be senior experienced cat adjusters.
When the 2nd storm hit the St.Louis area, AMFAM vendors had a very difficult time to find sufficent adjusters willing to deploy for AMFAM files. AMFAM responded by increasing their fee schedule, and allowing hand drawn diagrams; but the overall rates were still below 2002 levels. AMFAM was then forced to take on adjusters through their vendors that were uncertified in their new certification program.
The AMFAM certification program has proven to be a detriment to the purpose intended. Too large of a number of the more experienced adjusters that had obtained the AMFAM certification no longer chose to work AMFAM files, leaving AMFAM and their vendors with a disproportionate level of intermediate, junior and newbie adjusters; just the opposite of what the AMFAM certification program was designed to prevent.
Add edit #3:
Further input received on AMFAM. NCA was a vendor for AMFAM and deployed adjusters to the Kansas City storm. Adjusters report that while enroute NCA changed their payment schedule to a 40% holdback, with a new contract to be signed by the adjusters at the time of claim assignments. It is reported that 26 adjusters refused to work for NCA under this arrangement and left.
Pacesetters was another AMFAM claim vendor. Their deployed adjusters arriving in Jefferson City, attending the storm meeting were handed 81 procedural changes. It was also reported that AMFAM was closely scrutinizing all Xactimate entries. Reports of the AMFAM fee schedule included a fee of $255 for ($0 - $10,000 damage), nothing for photos, $15 for outbuilding, and $20 for steep charge if a picture with a pitch guage showing was included. As a result, 10 adjusters refused claim assignments. |
Edited by - CCarr on 05/21/2003 22:56:13 |
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PBMAX
11 Posts |
Posted - 05/16/2003 : 20:00:09
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THE ROOF PROCESS [ALLSTATE] IS NOTHING TO FEAR , IT CAN BE DONE ..HAND WRITTEN IN 2.5 MIN AND ON THE COMPUTER IN A FEW MORE STROKS...
ALLSTATE THEM SELVES SAID IT IS JUST A NOTHER ,, GREAT IDEA |
paul brosch |
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345
USA
28 Posts |
Posted - 05/21/2003 : 20:58:41
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| Thanks for the info!! I am very glad that AM FAM is getting a good dose of reality. |
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olderthendirt
USA
370 Posts |
Posted - 05/21/2003 : 22:17:50
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| It's been a couple of years since i did amfam looks like it will be a couple years more, they were ok to work for once upon a time. I understand that Crawford and a florida based firm have now signed some type of contract with Farmers for the east coast. I am told the Farmers called in at leat 150 Cat Adjusters in Dallas. Any word on what is happening in OKC? |
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