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Posted By Roy on 18 Dec 2010 10:49 PM

 Quote from recent article concerning TWIA lawsuits.

"At this week’s Oversight Committee on the Texas Windstorm Insurance hearing, Jim Oliver, Director of TWIA, testified that 92,000 claims from Hurricanes Dolly and Ike were filed since the storms hit two years ago. Of those, 4,800 lawsuits have been filed and 2,600 have been settled.

Seven hundred disagreements arose due to the issue of whether wind or water caused the damage to the slab. The remaining 4,100 were characterized as claims of underpayment. A survey of the policyholders filing these lawsuits showed that 50-55% of them never contacted TWIA to notify them of their dispute; instead, they just went to court."

Click here to read the article.

 

TWIA Assignments are full adjustments,  4,100 claims reported as claims of underpayment!  

 

This response is from marking "other" on the questionnaire.

 

As adjusters, we must take the time to do a PROPER inspection of the risk the first time out. If there is a gray area, error on the side of the insured.

 Let's look at two risks, one has severe roof damage , the other risk has minimal roof damage , if any at all.

I will spend twice the amount of time on the risk with minimal to no damage, any rookie adjuster want to answer why I would do that?

 

Robby Robinson

 

are you billing by the hour?

:)

You will never eliminate all complaints, but as an adjuster who gets to handle some reinspects, and settle some disputes, I can say over half can be solved with a little extra time taken by the initial adjuster, not just explaining the estimate, but having an open mind and listening to the insured or sometimes the repairer. With the software used on both the property and auto side, it takes a lot of gray area out of the claim. But there are some claims that require a little gray. That is where experienced adjusters shine. The ability to think outside the guidelines given to us by the companies and the software to reach a fair settlement.

JWG

Posted By Rod on 19 Dec 2010 02:13 AM
are you billing by the hour?

:)

Under most circumstances, working off of a fee schedule . However, all inspections need to be thorough regardless of billing and regardless of workload.
 

                                                                                                                                     :-)

Posted By Jim on 19 Dec 2010 12:17 PM
You will never eliminate all complaints, but as an adjuster who gets to handle some reinspects, and settle some disputes, I can say over half can be solved with a little extra time taken by the initial adjuster, not just explaining the estimate, but having an open mind and listening to the insured or sometimes the repairer. With the software used on both the property and auto side, it takes a lot of gray area out of the claim. But there are some claims that require a little gray. That is where experienced adjusters shine. The ability to think outside the guidelines given to us by the companies and the software to reach a fair settlement.

JWG

 

Bravo, this is GOLDEN dvice

I would like to see the Gaussian distribution for these claims.

http://en.wikipedia.org/wiki/Gaussian_function

Posted By ChuckDeaton on 20 Dec 2010 09:57 PM
I would like to see the Gaussian distribution for these claims.

http://en.wikipedia.org/wiki/Gaussian_function

As you know, the following formula is about as basic as they come, but to get the most true distribution , I would argue that by inverting the commonality factor is the ONLY way to get an accurate picture of an average claim.