Staying Dry Amid A Torrent of Claims

Insurers now should consider practical measures to prepare for subprime claims. The author recommends five steps including: 1. Review policies against some of the complaints that have been filed and identify likely coverage issues. 2. Identify the information needed to examine these claims. 3. Devel...

Full description

Saved in:
Bibliographic Details
Published in:Best's Review 2008-07, Vol.109 (3), p.64
Main Author: Rutkin, Alan S
Format: Article
Language:English
Subjects:
Guidelines
Insurance claims
Insurance companies
Policyholders
Storms
Subprime lending
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Insurers now should consider practical measures to prepare for subprime claims. The author recommends five steps including: 1. Review policies against some of the complaints that have been filed and identify likely coverage issues. 2. Identify the information needed to examine these claims. 3. Develop guidelines for likely positions. 4. Be sensitive to claims handling procedures. 5. Designate a person to coordinate subprime issues. Subprimes represent a significant storm. Much like a rain storm, claim storms require preparation. Insurers who take these five steps should stay dry.
ISSN:1527-5914
2161-282X