Claims Magazine September 2012
Cover Story
Organized Criminal Empires’ New Bag Of Tricks
The insurance industry is entering uncharted waters of cooperation and collaboration. The challenge is to be more organized than organized crime.
Departments
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Public Enemy Number One
Fraud has become the industry’s public enemy number one, a relentless leviathan siphoning $30 billion from P&C insurers annually.
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Clark: Expect a $10B Loss Every 4 Years from Hurricanes
A new report by Karen Clark & Co. says storms capable of major losses are not as infrequent as we might assume.
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Through His Eyes: Then-Fla. Insurance Commissioner Remembers Andrew
Tom Gallagher recounts the damage Hurricane Andrew inflicted and an industry forever changed.
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Drought-Induced Crop Losses Could Climb To $5B, S&P Says
Insured crop losses caused by the worst drought since 1988 could cost insurers and reinsurers more than $5 billion.
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Fake Adjusters Scam Fla. Drivers, Cat Victims
A recent string of copycat scams in southern Florida highlight a growing national problem.
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Linking Drought, Extreme Weather to Global Warming
Both the NOAA and a Nobel Prize-winning scientist issued statements linking recent extreme weather events to global warming. How strong is the connection?
Columns
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Policy Definitions of Vacancy and Occupancy
At first glance whether a property is considered "vacant" should seem obvious. Unfortunately, however, it is not nearly as easy to determine as one would hope.
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Fifty Shades of Claims Investigation
An updated version of CF&MIC, an authoritative resource guide for professionals handling a multitude of P&C claims, is now available.
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Technical Notebook: Window Sash Damage: Causes and Coverage
Three classic examples of window sash losses illustrate the issues faced by the claims analyst.
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The Enemy Within
To believe we have no enemies is probably pretty naïve but often the only person standing in your way is you.
Features
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Enabling Smarter Claims Fraud Management
Organizations need a clear understanding of current trends, challenges and available technology solutions to be able to deploy or improve an insurance claims fraud program.
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It’s Complicated
Sometimes BI valuation is a relatively simple task; the loss period is short, and revenue and expenses have been stable over a number of years. In other cases, however, it is the polar opposite.
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Modeling Best- Practice Behaviors
We often stress the importance of “best practices,” but it is actually best-practice behaviors that drive cultural shift at organizations.
eAdvertorial
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Indicators of A Suspect Claim or Malingering Claimant
Identifying common "red flags" that may indicate a claim potentially contains a fraudulent element or points to a malingering claimant.
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Using Property Title Abstracts in Adjusting
Using title abstract reports and document forensics to investigate mortgage interests and evidence of fraud are contemporary best practices in supporting the claims process.
Resource Library
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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.
