To: All Brokers/Agents
Re: Claims Handling
A recent article in the Standard stated that agent’s top priority is "claim handling".
We thought that we should reiterate our claim handling authority with our Lloyds contracts (6) covering commercial, homeowner and dwelling risks since it is this activity that impresses our industry to the insured:
- our in house authority is $35,000 for property claims
- losses are assigned to local independent adjusters
- claim reports are received here from adjusters
- payments are usually made within 5 business days after receipt of POL forms
- claims over $35,000 are referred to Lloyds but still handled via independent adjusters through this office
- losses over $35,000 are approved by Lloyds and payments are then made from this office
- we are very aggressive with losses that require subrogation activity hence deductibles are returned to the insured
- claims to be denied are referred to Lloyds for decisions
- liability claims are referred to Lloyds but handled by independent local adjusters
Hopefully, the above provides a clear statement of the importance of claims handling by our office so that service can be provided to the insured at the time of urgent need. We welcome any comments from you since it is this activity when the insured and you, our customer, really see the affects of purchasing insurance through our offices.
Regards,
Paul M. DeCotis
