RE: Looking for Information On a Company
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RE: Looking for Information On a Company - 9/16/2006 12:48:01 PM
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trader
Posts: 1203
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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Please go up and read post number 9 from a "good insurance contractor" who knows the in's and out's as well as any contractor/adjuster.
Right on Big Bob: FICUS TREE with a splash... very tasty on the claim expense side.
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RE: Looking for Information On a Company - 9/16/2006 12:58:50 PM
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brighton
Posts: 39
Joined: 6/10/2005
Status: offline
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Rick,
Many companies have direct repair programs for both auto and property. They all go by different names but the premise is that it is cost savings for the company in terms of employees. You have an auto accident, many carriers will direct you to a body shop in your area. The shop will write the est and submit it to the carrier. Remember the flack when Allstate opened up Calibre Collision? That is the complete turn key operation.
The same thing with property only the companies do not own the construction company. The desk adjuster or maybe even the agent will ask if you want them to send a contractor out. If so, they go on to the rotation list and a contractor in the program will be sent out to scope and estimate the damages. If it is not over a certain dolar limit, the contractor collects the deductible from the insured and is paid directly by the carrier once a certificate of satisfaction is signed by the insured. Maybe a QA person will go out to verify the damages. However, this is on a small percentage of the claims.
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RE: Looking for Information On a Company - 9/16/2006 1:34:02 PM
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trader
Posts: 1203
Joined: 4/19/2004
Home base: Houston, TX
Status: offline
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brighton: the new people have not been a part of adjuster change over the past 35 years. I have been around longer and if I was the CEO of an insurance company I would be working each year to reduce the expense of field adjusters pay roll and IA fee bills.
A claim is verified cost to the insured or 3rd party claimant. If coverage is afforded and the cost have been verified, no need for a person from the insurance company to make a field inspection, OTHER than to verify the correctness of settlement on a small percentage of paid claims. ie; audit
*opine* from January 1, 2006 forward the cat. adjuster industry will change each month. Prepare for changes
in much lower fees and less warm bodies.
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RE: Looking for Information On a Company - 9/16/2006 6:45:11 PM
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aporco
Posts: 124
Joined: 4/21/2004
Status: offline
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brighton, Have you spent your 30 yr.career with one carrier? Did they always have direct repair programs? I'm asking because my experience with carriers saw these programs wax and wane. A contractor would cause some kind of problem and management would decide that the direct repair program had too many liabilities. They'd staff up until the next cycle necessitated downsizing and then go back to a new and better direct repair program until the next ...... The cycle runs every 8-10 years. My experience.
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RE: Looking for Information On a Company - 9/16/2006 7:22:36 PM
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brighton
Posts: 39
Joined: 6/10/2005
Status: offline
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apoco
Have not spent entire 30 with one carrier. The advent of DRP was late 70's to early 80's. Insurance is a small world. When you are working one area on a regular basis, you run into adjusters you know from other companies and you can bet you will know what new program is going to be implemented or which program in being canned before it is announced. You are correct, the average life cycle of most DRP's is about 7 years. Then new management or a new division head comes in and has a better idea or like you said, someone caused problems and the program got shelved. Today, the issue is bottom line and like trader said, he would work each year to reduce expenses if he was CEO. Yogi Berra was right on when he said "It's Deja Vu all over again."
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