Property and Casualty carriers have a duty to investigate claims with suspicious indicators. How do you ferret out the potential fraud; separating out the legitimate claims vs. questionable? The course is designed to assist claims professionals with recognizing and identifying more complex, nuanced issues relating to property fraud and to develop best practices in the adjustment and investigation of potential fraudulent claims.
Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid to the insured for the loss. Settling first party property claims with premium paying insureds who have suffered a loss to their personal property or their business sometimes means making a payment for a loss that is caused by others. In those situations subrogation is the vehicle that allows an insurer to fairly compensate its insured yet hold those responsible for the loss to account for the payments made to the insured. This course is designed to provide some tools to assist claim handlers in assessing whether subrogation should be considered and how to maximize the effectiveness of a subrogation program.
In this course, participants will learn about the importance of good faith claims handling, and various issues that arise in any first party property claims situation that could have implications relative to an insured's allegations of "bad faith." In furtherance of the discussion, there will be a discourse relative to Unfair Claims Settlement Practices Acts and why they were promulgated. There will be an analysis of s causes of action filed when there are claims of "bad faith" claims handling and why such allegations change the landscape of defending a lawsuit. This program is intended to be discussion based and the participation of audience members will be encouraged.