Claims Magazine August 2010
Cover Story
What Will Darryl Do?
In this exclusive feature, BP's Claim Manager Darryl Willis discusses the enormous undertaking of paying oil spill losses, while Attorney Lela Hollabaugh looks at the long-term litigation aspects BP faces.
Features
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Evaluating Adjuster Performance
Performance assessments are not just a time to alert employees to their faults and reiterate what you expect from them. Learn the secrets to success.
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Business Intelligence Measures
To achieve enhanced reporting and insight, you must do three things: select and organize your measures; develop a discipline for exploring data that focuses on root cause; and teach your managers and leaders how to act upon data.
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Agent/Claim Dynamic Duos
From the initial first notice of loss through to the final payment, insurance agents play many vital roles in the claim process. Here is how they can help adjusters with the process.
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The Designated-Premises Endorsement
When grappling with a designated-premises endorsement of a commercial general liability policy, claim professionals must consider both the nature of the insured's premises and the nature of the insured's business, which are not necessarily the same.
Columns
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A Call to ARM
Although there are many things that can prevent someone from successfully pursuing the ARM, the most prevalent involve misperceptions. Overcome them with our help.
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The Deepwater Spill: Coverage Analysis
There may still be individuals and businesses whose claims may not be paid or fully satisfied. These parties will likely then turn to their insurance policies for compensation. The FC&S staff analyzed how various lines of business could respond.
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Technical Notebook: Evidence Retention and Event Data Recorders
The following three examples illustrate the type of data retained in black boxes and their significance.
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Ticking Time Bombs
Risk management and school disasters.
Departments
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Working the Spill
Let's hear it for the independents, for which the oil spill and the weight of impossibly high public expectations is just another day at the office.
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Speaking Of: Independent Adjusting
IAS Claim Services' President Paul Kottler answered questions about the current role of independents, essential technologies for the industry, and how to attract new talent.
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Nine New P&C Companies Join List of Top Performers
The Ward Group has analyzed the financial performance of thousands of P&C insurers in the U.S. to compile a top 50 list of those that are demonstrating financial stability. Nine new additions were added to last year's list.
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U.S. Auto Theft: Downward Spiral Continues
Amid the surge in questionable staged-accident claims and suspicious hail loss claims comes a sunny spot: a lower incidence of auto theft.
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NFIP Extended to Sept. 30th
On July 2, 2010, President Obama signed into law an extension of the National Flood Insurance Program, good until Sept. 30.
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June Losses Top $200 Million
Insured losses for the U.S. in June totaled about $200 million because of hail and flooding in the Northern Plains and tornado damage in the Midwest and Ohio Valley, Aon Benfield said.
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ACE in the Hole
The bright, frenzied lights of the Vegas strip once again served as the backdrop for this year's ACE America's Claims Event, which took place from June 22-24th at the Bellagio Hotel. Presentations are now up.
