Claims - November 2015

from a recovery perspective as it is best to get involved early in the claims process to gather and protect critical information and evidence. Best case scenario would be for both the claim adjuster and the subrogation adjuster to develop a strategic relationship which will not only keep the customer happy but will preserve the carrier’s right to a successful recovery, should one exist.

These five basic practices can assist an insurer in capturing more of their paid claims dollars:

1Keep an eye out for recovery — While every company looks to mitigate their exposure to be sure only what is owed is paid, mitigating exposure can also mean conducting or directing field scene investigations with an eye towards subrogation — whether the company is utilizing staff adjusters or has engaged an independent adjusting company to do so. The field adjuster has the best opportunity to ask questions and document third-party potential.

When a significant home- owner property loss occurs, the adjuster is keenly aware of the insureds’ desire to return to their home quickly after the reconstruction. It is also in the best interest of the carrier for the claim to move along in an expeditious manner in order to provide high levels of customer service and control costs such as additional living expenses.

Losses involving large commercial
properties are often very complex, and the
adjuster must be well versed in a variety
of perils including building fires, explo-
sions, collapses, water damage, mold, and
equipment and machinery malfunction.
Often, commercial properties involve
tenant issues and exposures in addition
to the insured’s real property loss. Again,
the adjuster is trained to handle the claim
in a professional and expeditious manner
to satisfy the policyholder and minimize
the claim for business interruption.

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. A good practice would be for the property adjuster to place a subrogation indicator on any file having even the remotest subrogation potential. The adjuster should alert the subrogation department to jump into the claim