Claims Magazine December 2011
Cover Story
The Not-So-Invisible Circus
Like that of a tightrope walker, the line between cunning and foolish is very thin for these shamed fraudsters.
Departments
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‘Yes, Virginia. There Is A Santa Claus’
The loving response to an age-old question published in a 1897 edition of "The New York Sun" continues to shed a light of hope, even in an economically and emotionally wrecked world.
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Policyholder Ambiguities Cost Auto Insurers $15B
Many drivers fail to provide accurate, up-to-date information to their auto insurers, costing the industry $15.4 billion last year. With better data, however, insurers can put the cap on premium leakage.
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Japan Tsunami Fails to Halt Collision Parts Flow
Although incredibly tragic for the nation, the tsunami in Japan, had little net impact on vehicle parts pricing, according to Mitchell's ITR.
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Moody’s Calls Oct. Snowstorm Major Capital Event for Insurers
"Let it snow" ... oh no! Dumping more than 2 feet of snow in some northeastern locations, the freak October snowstorm is expected to be a major capital or credit event for the P&C insurance industry.
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Speaking Of: Fighting Fraud Through The Years
Not much has changed In the 44 years attorney Barry Zalma has been fighting insurance fraud; just a few adjustments to the same ole schemes. He finds encouragement, however, in the growing number of insurers willing to fight and take fraud cases to trail.
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More PIP Fraud Arrests in Miami, Orlando
Staged auto accidents and fake insurance adjusters—PIP fraud is a heavy cloud hovering over the sunshine state. Seven related arrests last month is just a drizzling of the storm.
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Software for P&C Insurers of All Sizes
Accenture's new comprehensive integrated P&C software suite enables insurers to reduce their implementation time and risk, while improving the accuracy of both claims handling and underwriting.
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New Calif. Legislation to Stop Airbag Scams
A new Calif. law makes it a crime for auto repair shops to say they have replaced or repaired a deployed airbag when they haven't.
Columns
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Everything In Its Right Place
ALE coverage is one of those broad coverages that can bedevil adjusters, agents, and insureds alike. Here's a look at all that ALE entails.
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Adroitly Manage Fleet Auto Risks
Company-owned vehicles make it easier to conduct business, but offer great risk. Collisions can exact a heavy toll. Telematics and EDRs, however, can improve risk management, as well as allow claims to be assessed more accurately driving down costs for the business and insurer.
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The Near and the Far-Fetched Disasters
As if there isn't enough to worry about what's happening on Earth, scientists are warning against space weather. Solar storms, they say, could wreak havoc on the electric-power supply, triggering losses from business interruption and damaged physical assets.
Features
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EDRs for the Claims Adjuster
EDRs, commonly called "black boxes," offer a variety and wealth of product information that an adjuster will find useful when evaluating opportunity for subrogation.
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Customers and the Claims Value Chain
Follow these tips for providing a highly consistent and personalized claim service experience.
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A Forensic Accountant’s View of Business Interruption
Many adjusters do not have the time or expertise to properly and expeditiously evaluate a BI claim, especially in a catastrophic environment. A competent forensic accountant can assist.
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Today’s Litigation Landscape
Claims compiled a sampling of some of this year's important legal developments for the P&C industry.
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Ten Ways to Reduce Claims Costs Now
Today's consumers are focused on value for money. P&C insurers, in turn, are perpetually striving to reduce the cost of handling claims. Here are 10 helpful suggestions to reduce costs.
Resource Library
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