Filed Under:Risk, Enterprise Risk Management

Case Study: Claim To Excellence

Trust is earned the old-fashioned way at KMRD Partners: without shortcuts. This core principle is exemplified through the agency’s claims-resolution process, which is designed to eliminate surprises and ease clients’ anxiety.

Case in point: Just two weeks after acquiring KMRD coverage, a Pennsylvania boarding school experienced a fire in its maintenance and heating facility. Not only was the fire the most severe the school had ever experienced, but it occurred in chilly mid-November.

KMRD immediately executed its emergency-claims procedures: It alerted its entire service team, sent two agency reps to the school (with cameras for documenting damage) and sent one representative to KMRD’s office to prepare for the next day’s meeting with school administrators.

The school implemented its disaster-recovery plan and immediately evacuated students to the gymnasium, arranged for temporary lodging in the gymnasium, ordered temporary boilers so students could return to their dormitories once the fire was extinguished, and appointed (at KMRD’s direction) one point of contact for the media.

At the next day’s meeting with school administrators, KMRD outlined key partners involved in the claim and provided sample policy forms obtained during negotiation processes with the carrier. KMRD also stressed the need to identify the cause and origin of the fire to ensure complete coverage: Prior to this meeting, the school was already engaging a demolition company to arrive that same day—they would have lost a component of coverage had they done so.

Top Story

5 basic personality types all agents should know, and how to sell to them

Are you dealing with an Agreeable Amelia or a Nail-Biting Norbert? Learn how to communicate with different personality types.

Top Story

Here are the 10 worst terrorist attacks of all time in terms of insured losses

As Congress continues to delay renewal of the federal Terrorism Risk Insurance Program Reauthorization Act, it's a good time to consider the continuing risk of terrorist-related losses, due to new threats from extremist groups like ISIS and others.

More Resources

Comments

eNewsletter Sign Up

Risk Management Report eNewsletter

Identify problems involving emerging risks, reinsurance, and business interruption with help from Risk Management Report - FREE. Sign Up Now!

Mobile Phone
         
Close

Advertisement. Closing in 15 seconds.