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EFFECTIVE CLAIMS HANDLING

EFFECTIVE CLAIMS HANDLING. Presented to: FIRST KEYSTONE RISK RETENTION GROUP, INC. Presented by: Jay Barry Harris, Esquire & Jason T. LaRocco, Esquire FINEMAN KREKSTEIN & HARRIS. CLAIM HANDLING GOALS. Knowledge Documentation Evaluation. THE UNFAIR INSURANCE PRACTICES REGULATIONS.

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EFFECTIVE CLAIMS HANDLING

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  1. EFFECTIVE CLAIMS HANDLING Presented to: FIRST KEYSTONE RISK RETENTION GROUP, INC. Presented by: Jay Barry Harris, Esquire & Jason T. LaRocco, Esquire FINEMAN KREKSTEIN & HARRIS FINEMAN KREKSTEIN & HARRIS

  2. CLAIM HANDLING GOALS • Knowledge • Documentation • Evaluation FINEMAN KREKSTEIN & HARRIS

  3. THE UNFAIR INSURANCE PRACTICES REGULATIONS • Guideline for claims handling • Bad faith exposure FINEMAN KREKSTEIN & HARRIS

  4. PRE-SUIT • Investigation • Quick response • Gather witnesses and facts • Know your coverages FINEMAN KREKSTEIN & HARRIS

  5. PRE-SUIT • The Unrepresented Claimant keeping him or her unrepresented • Obtain information • Communicate – “idle claimants turn into plaintiffs” • Prompt evaluation FINEMAN KREKSTEIN & HARRIS

  6. PRE-SUIT • Claim File • Document what you have • Assess what you need • Evaluate coverage and exposure • Determine the case value FINEMAN KREKSTEIN & HARRIS

  7. PRE-SUIT • Forms • Internal information case sheet • First Keystone claim notes FINEMAN KREKSTEIN & HARRIS

  8. PRE-SUIT • Reminders • Always consider coverage, liability and economics • Document coverage evaluation • Paying earlier saves money later • Don’t be afraid to consult counsel FINEMAN KREKSTEIN & HARRIS

  9. LAW SUIT – MANAGING LITIGATION • Referring the case • Referral letter must contain: • Client information • Witness information • Current evaluation of liability and damages • Strategy • Expectations FINEMAN KREKSTEIN & HARRIS

  10. LAW SUIT – MANAGING LITIGATION • Counsel must: • Report promptly • Provide meaningful reports • Detail all significant developments • Budget, when necessary FINEMAN KREKSTEIN & HARRIS

  11. LAW SUIT – MANAGING LITIGATION • Communication • Constant dialogue counsel • Develop common strategy • Move toward case resolution FINEMAN KREKSTEIN & HARRIS

  12. LAW SUIT – MANAGING LITIGATION • Trial • Evaluate exposure • Understand your risks • Understand your coverage • Evaluate the economics FINEMAN KREKSTEIN & HARRIS

  13. LAW SUIT – MANAGING LITIGATION • Forms • Referral letter • Counsel status report • Budget • Litigation Guidelines FINEMAN KREKSTEIN & HARRIS

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