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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

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

claim handling goals
CLAIM HANDLING GOALS
  • Knowledge
  • Documentation
  • Evaluation

FINEMAN KREKSTEIN & HARRIS

the unfair insurance practices regulations
THE UNFAIR INSURANCE PRACTICES REGULATIONS
  • Guideline for claims handling
  • Bad faith exposure

FINEMAN KREKSTEIN & HARRIS

pre suit
PRE-SUIT
  • Investigation
    • Quick response
    • Gather witnesses and facts
    • Know your coverages

FINEMAN KREKSTEIN & HARRIS

pre suit5
PRE-SUIT
  • The Unrepresented Claimant keeping him or her unrepresented
    • Obtain information
    • Communicate – “idle claimants turn into plaintiffs”
    • Prompt evaluation

FINEMAN KREKSTEIN & HARRIS

pre suit6
PRE-SUIT
  • Claim File
    • Document what you have
    • Assess what you need
    • Evaluate coverage and exposure
    • Determine the case value

FINEMAN KREKSTEIN & HARRIS

pre suit7
PRE-SUIT
  • Forms
    • Internal information case sheet
    • First Keystone claim notes

FINEMAN KREKSTEIN & HARRIS

pre suit8
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

law suit managing litigation
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

law suit managing litigation10
LAW SUIT – MANAGING LITIGATION
  • Counsel must:
    • Report promptly
    • Provide meaningful reports
    • Detail all significant developments
    • Budget, when necessary

FINEMAN KREKSTEIN & HARRIS

law suit managing litigation11
LAW SUIT – MANAGING LITIGATION
  • Communication
    • Constant dialogue counsel
    • Develop common strategy
    • Move toward case resolution

FINEMAN KREKSTEIN & HARRIS

law suit managing litigation12
LAW SUIT – MANAGING LITIGATION
  • Trial
    • Evaluate exposure
    • Understand your risks
    • Understand your coverage
    • Evaluate the economics

FINEMAN KREKSTEIN & HARRIS

law suit managing litigation13
LAW SUIT – MANAGING LITIGATION
  • Forms
    • Referral letter
    • Counsel status report
    • Budget
    • Litigation Guidelines

FINEMAN KREKSTEIN & HARRIS