Crisp and accurate claims reporting can streamline the entire claims process. Toward that end SBT will review all incidents reports, attorney letters, and summons and complaints and will explore options including retaining the loss, transferring the loss to a third party where appropriate, and or tendering the claim to the insurer. The result is faster more complete payment of claims with less drain on your organization while keeping premiums as low as possible.
In developing your pre-renewal strategy SBT brings to bear decades of experience via its network of experts focusing on you needs. This process insures that the proper groundwork is done to completely document your requirements while uncovering potential pitfalls and opportunities. The process described below has been proven over and over again with hundreds clients. What follows is a sample of the steps require to develop and effective pre-renewal strategy:
Insurance companies these days endeavor to increase profits by scrutinizing every claim. As respects third party claims, it is standard practice today for the insurance carrier to respond to claims by issuing a Reservation of Rights letter in which they point out various possible reasons that the claim may not be covered. They agree to provide defense, subject to the possibility of refusing to pay the settled or adjudicated award as well as the potential of withdrawing defense at a later date. These procedures make the management of claims critical to getting maximum value from your insurance programs. SBT will take this time consuming function off you plate and apply our decades of experience to the task by performing the following functions: