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The International Federation of Adjusting Associations Annual Conference

The International Federation of Adjusting Associations Annual Conference John Hurrell CEO of AIRMIC Thursday 30 th April 2009. IFAA. Agenda Claims on the AIRMIC Agenda Claims Best Practice Guide Reservation of Rights Speed of Settlement Contract certainty The future!. IFAA.

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The International Federation of Adjusting Associations Annual Conference

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  1. The International Federation of Adjusting Associations Annual Conference John Hurrell CEO of AIRMIC Thursday 30th April 2009

  2. IFAA Agenda • Claims on the AIRMIC Agenda • Claims Best Practice Guide • Reservation of Rights • Speed of Settlement • Contract certainty • The future!

  3. IFAA Claims on the AIRMIC Agenda • Critical importance for members • Impact of the recession • Transparency of claims services • Willingness to Pay vs. CBPG

  4. IFAA • Claims Best Practice Guide (I) • Why did we produce it? • How did we compile it? • Who is using it?

  5. IFAA Claims Best Practice Guide (II) Key Components • Culture and Philosophy • Communications • People • Infrastructure • Claims Procedures • Data Management • Operations • Monitoring and review

  6. IFAA Claims Best Practice Guide (III) Some critical elements • Culture and philosophy * Reporting lines * Investment * Transparent client commitments • Communications * Formal guidelines * Escalation and complaints * External parties

  7. IFAA Claims Best Practice Guide (IV) Some critical elements (cont) • People * Capacity model * Succession planning * Experience * Retention • Infrastructure * Efficient and adequate IT systems * Client access to information and data

  8. IFAA Claims Best Practice Guide (V) Some critical elements (cont) • Claims procedures * Use of specialists (including loss adjusters) * Commitment to timelines * Embedding of Reservation of Right SOP • Data Management * Data sharing

  9. IFAA Claims Best Practice Guide (VI) Some key elements (cont) • Operations * Written protocols for third party service provider performance * Rapid payment procedures * International co-ordination • Monitoring and Review * Independent internal review of claims dept. performance * Client feedback assessment

  10. IFAA Reservation of Rights • Member feedback in 2008 • Critical client issues *Accounting *Finance *Speed of Settlement • Insurer response ACE, AIG, Allianz, AXA, RSA, XL, Zurich

  11. IFAA Speed of Settlement • Background • Current discussions *Cash flow planning *Cash neutrality through interim payments • Next steps

  12. IFAA Contract Clarity • AIRMIC members concerns • Potential solutions *Scenario planning *Disclosure agreements *Agreed values vs. indemnity

  13. IFAA The Future! • Transparency and technology • Resourcing • A strong loss adjusting profession!!

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