Tag Archives: insurance claims

Understand the Insurance Adjustment Process

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It is not unusual for the insurance company to compile values that disagree. These differences are resolved through Claim Adjusting, or if necessary through the Appraisal procedure, a simple, inexpensive form of arbitration. However, many recent changes in wording of some policies have included striking-down the Appraisal process and instead now require parties to go […]

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8 Important Points When Presenting Your Loss & Claim

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In the previous post Proof of Loss: The proof is in the pudding, we shared the importance of knowing how the business insurance claims process works so you can get paid what you are due if you suffer a loss. These 8 points will help you navigate the claims process successfully. 1.  Familiarize yourself with lines 90 […]

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Proof of Loss: The proof is in the pudding as they say

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From an insurance perspective it is important to know how you can recover when your business suffers a loss. Questions to consider when filing a business insurance claim: 1. Will your insurance coverage be adequate? 2. How do you go about getting a recovery? 3. What are your responsibilities in the process? Knowing how the […]

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Experience Modification: 5 Steps to Control Your Own Destiny

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Many times when a client engages us to become their Outsourced Risk Manager, in the interview stage we often discover that their workman’s compensation costs are high relative to the employee population and work functions. Typically we discover that the experience modification factor is high (which is commonly referred to as a “debit mod”, over […]

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The Life of an Insurance Policy

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A few weeks ago I participated in a panel discussion regarding insurance issues. The first part of the discussion was to center around “the life of an insurance policy” – I thought to myself what exactly is the life of an insurance policy and trying to have a little fun with it, I came up […]

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Approaches to Risk Management: Part 1 The Basic Concepts

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To get a flavor of where to start in the analysis of how to save time and money on an insurance program, a basic understanding of a few concepts is necessary. The first is the idea of “Risk Management”. Risk Management is the practice of protecting an organization from financial harm by identifying, analyzing, and […]

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