Gain the Competitive Edge by Strengthening Your WC Subrogation Results By Kathleen Smith CSRP & Donna Geraghty The degree of difficulty for many Workers’ Compensation claims adjusters to focus on the subrogation aspects of the claims assigned to them is rather high. Subrogation recognition and Third-Party recovery are definitely areas often missed by over-burdened Workers’ […]
Pursuing subrogation against an uninsured party can be a daunting task, even for the most experienced Recovery Specialist. Challenges are quite different than pursuing recovery from an adverse carrier where the person negotiating the claim has insurance, liability, and investigative experience and understands subrogation. On claims with adverse carriers if an impasse is reached due […]
A variety of factors can preclude successful subrogation outcomes and recovery results can vary greatly when any of these factors become a barrier. Some of these issues can be addressed through education, while others create challenges for all involved. The recovery specialist is responsible for making a convincing argument as to how and why the claim facts […]
Subrogation professionals are never pleased when a case they are handling reaches an impasse and needs to be shut down, especially after investing a significant amount of time and effort reviewing the claim facts, gathering missing evidence and developing a theory of negligence. But sometimes ceasing recovery efforts is a prudent decision even when the […]
Damages resulting from water are one of the most common homeowner claims and are often very costly. High paid claim dollars can result if the leak is not detected early. Because plumbing is often hidden (running behind walls, in attics and in many instances encased in cement below the floor) water can be running for […]
Approximately 15% of claims are closed without identifying subrogation opportunities. Read More
Snow covered roofs contribute to the beauty of the winter season but melting and re-freezing snow can result in mixed success when subrogating on paid snow-removal claims. Read more here
A common reason for failure to obtain a recovery from a municipality is the initial failure to file the required Notice of Claim against the state, county, local government or municipality, inclusive of school districts, incorporated villages, towns, and police departments within the required timeframe. It is always a sad day when a case is […]
Occasionally, even the most arduous efforts may still reach an impasse when claims adjusters are negotiating a settlement of an automobile claim when there is a dispute over damages and/or liability. Fortunately, an effective low-cost remedy is to submit the matter to Arbitration for review and decision by an unbiased Arbiter. Success in arbitrating automobile […]
Successful subrogation programs require a strong foundation, strengthened with proven recovery processes and refined with strategies relevant to each line of business. Read more here http://www.propertycasualty360.com/2017/11/17/building-a-successful-property-subrogation-program?slreturn=1517934198
Achieving subrogation success requires a team that understands the concept and the financial impact a good subrogation program can have on the organization. Read more here http://www.rmmagazine.com/2016/03/14/the-benefits-of-a-subrogation-program/
Subrogation may be the final step in the claims process but certainly not of least importance due to its powerful impact on the financial health of an insurer. A highly successful recovery process keeps premiums and insurance costs affordable as responsible parties are held accountable. Recovery results for 2017 will soon be tallied and those […]
Imagine you are the person accountable for subrogation results within your organization. You believe you have a good subrogation program in place. The claims team is a good mix of seasoned and new adjusters with varying degrees of “subro awareness”. It is the end of the year and the last recovery dollar has been posted. […]
To achieve client loyalty, Spartan Recoveries LLC, a leading provider of subrogation services, has created a client-focused culture for both internal and external customers. Our investment in improving the client experience and consistency in providing top-notch service has instilled trust and created our brand promise. Becoming a trusted partner with a deep understanding of our client’s […]
Very often an insurance carrier or self-insured may not have the resources to develop a top-notch internal subrogation team and thus outsources the recovery process to a vendor specializing in subrogation recoveries. In other instances the subrogation vendor acts in the capacity of support to an internal subrogation team by handling overflow or providing special […]
Most subrogation professionals will agree property losses can pose unique challenges for a successful recovery. Very often, expeditious claims handling can have a negative impact on a subrogation opportunity if the adjuster is moving quickly to bring the loss to a conclusion and forgetting about potential recovery opportunities. read more here
Most insurance carriers have long ago recognized the importance of subrogation. Some have developed dedicated departments staffed with highly trained specialists who may work in conjunction with the claims department to handle this function. Others are supported by outside resources to reach their recovery goals. But oftentimes the subrogation process is underutilized or neglected entirely […]
The use of technology can help an insurer select the claims with the greatest recovery potential. read more here
In a recent posting we discussed missed subrogation revenue waiting to be discovered in your closed claim files. Hopefully you have begun to implement some of the practices suggested, such as forensic file reviews and subro awareness training which will ultimately lead to the early identification of claims with recovery potential. The prospect of a […]
A key function of a claims executive’s role is to ensure that the claims department is adequately staffed and trained not only to investigate and negotiate incoming losses, but to reclaim monies paid by pursuing responsible third parties. The executive’s challenge is to maintain a high level of quality in the technical claims process, monitoring […]
Subrogation programs are often handled in-house, while others are fully or partially outsourced. Each company needs to make a decision on which model will be the most cost-effective and efficient for their organization. read more here