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Article: Keep outgoing claims service provider on your side.
- Article from:
- Business Insurance
- Article date:
- March 30, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Now that you've fired your claim service provider, how do you manage the remaining casualty claims?
When you leave an insurer or claim service provider and start a new business relationship with another, you have to plan to manage the runoff of workers compensation and liability claims. In most cases, those claims stay with the provider you're letting go; otherwise, you can end up paying twice for a claim. That might happen, for example, if claims are handled on a flat-fee basis, and you would have to pay the new service provider to handle a claim you already paid the outgoing provider to handle. That claim service provider will spend hundreds of thousands of claim ...