Claims Magazine January 2012
Cover Story
Restoring Order in Chaos
Jeffrey Bowman, CEO of Crawford & Company, discusses an unprecedented year of global natural catastrophes and the lessons claims organizations of all sizes can glean.
Departments
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Chaos Theory
If anyone is capable of restoring order to chaos, aside from mathematicians and economists, it is most certainly claims adjusters and their brethren.
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New Metrics, Familiar Prediction: Another Active Hurricane Season
Chances are high that 2012 will be another active hurricane season in the Atlantic if an El Niño does not develop, say forecasters at Colorado State University (CSU).
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Moody’s: Thailand Floods ‘Meaningfully Hit’ Reinsurers’ 4Q Results
Taking into account estimated Thailand-flood losses at Swiss Re and Munich Re, Moody’s Investors Service says it expects the event to “meaningfully hit” the reinsurance industry’s fourth-quarter results.
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Farmers Resolves Class Action Lawsuit
Farmers Insurance reached a settlement to resolve a nationwide class action lawsuit.
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Speaking Of: 2012 WIND Conference
The 13th annual WIND Conference will be held Jan. 30 through Feb. 2 in Orlando, Fla. Claims Assistant Editor Melissa Stewart recently spoke with WIND Executive Director Michelle Griffin for a preview of the many offerings available this year.
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Logistical Problems Delay Joplin Rebuild
Missouri regulators have cautioned that some insurers will need to extend rebuild deadlines in order to avoid bad-faith accusations and possible legal action.
Columns
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Power Outages and Catastrophes
Evaluating the latest editions of the ISO commercial property causes of loss forms that contain utility services exclusions that preclude coverage for power or other utility failure that is supplied to a premises.
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Ten Ways to Get More Out of Conferences
As 2012 beckons, odds are that somewhere on the calendar will be an off-site conference for you to attend. Here are some tips for making the most out of the experiences.
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Claims Auditing 101: Part 1
Some may call it “counting beans,” whereas others suggest that statistics are never a true guide about what is really happening. Reality lies somewhere in the middle of any audit process.
Features
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Automotive Brake Failures
Many claims these days suggest that automotive brake failure directly contributed to an accident. For those losses where brake malfunction is a suspected cause, the claims investigator is obliged to look into the existence of evidence of brake failure.
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A Predictive Analytics Arsenal
In areas of the business like personal lines, quoting, and underwriting, carriers have embraced data and analytics to improve profitability and reduce costs. Yet, they have not applied the same approach to claims—where the vast majority of a carrier’s premium dollars are spent.
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Intelligent Application of Automated Workflows
This article examines the impact of applying technology to the litigation management process, as well as examines what considerations must be met in order to reach a successful application.
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Raising the Roof on Wind-Resistant Technology
This article provides a brief review of current roof covering codes, design, and selection process. It also presents a number of common construction-related defects that result in the loss of millions of dollars annually.
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Events
17th Annual America’s Claims Event
When: June 19-21, 2013
Where: Austin, Texas
The ONLY industry event where senior managers, practitioners & experts involved with claims operations can get the insight they need to implement effective and tactical strategies for their claims handling process.
