Inside Information From
Industry Veterans
How
Insurance Companies Settle Cases covers the spectrum of settlement concerns from
estimating bodily injury damages and investigating coverage to claims
denials and action letter outlines. Speed the processing of your claims and
reduce your frustration with insurance companies. This book offers:
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Insurance company settlement techniques to
watch out for
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Aspects of claims frequently questioned by
insurance companies
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Insurance policy defenses and coverage issues
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How to communicate with insurance companies
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Duties owed by insurance companies
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How to deal effectively with adjusters
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How insurance companies process claims
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Adjusters’ most popular negotiating
techniques
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How reserves and indexing systems work
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What insurance companies look for in their
investigations
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How insurance companies seek to limit
coverage
Knowing how
insurance companies operate can help you obtain fair settlements faster. By
learning what counts with the home office and what doesn’t, you can present
your case in its best light with minimum wasted effort, and make both you
and your case stand out.
The book is filled with
settlement information from an insider that you can put to use today.
A few tips include:
Negotiating
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“Adjusters will frequently offer two-thirds or one-half of the demand
received from the plaintiff's attorney” Section 240
-
“A
local claims manager has about $50-100,000 discretionary settlement
authority. He will usually extend $20-30,000 discretionary settlement
authority to his claims supervisors, and $10-15,000 to the office claims
staff.” Section 240
-
The
prudent plaintiff's attorney will ask the insurance company point-blank,
in the very beginning stage of the relationship, “Are there any coverage
issues? Are there any liability issues?” Section 702.1
-
“Avoid
Monday mornings and Friday afternoons as this is the busiest time for
adjusters. These are the times they will be least receptive to
attorneys’ phone calls or requested meetings.” Section 780
Valuation
-
“99%
of the plaintiff's attorneys don't know about the supplementary
coverages which are due and payable in excess of the policy limits.”
Section 240
-
“A
natural trap that many attorneys fall into is to negotiate the value of
their case against the policy limits. If the plaintiff was 20% at fault
in a comparative fault jurisdiction and policy limits are $100,000, many
attorneys will ask for $80,000. They should instead value the case
without regard to the policy limits.” Section 740.1
Documentation
-
“Nurses in hospitals and clinics keep the best documentation on observed
pain of a given patient. Use their notes to screen out phony claims of
soft tissue injuries.” Section 240
-
“An
undocumented demand is not worth the paper it is written on. The
insurance industry loves all claims documented, and loves paperwork.
Why? Because that's the way it has always been done.” Section 702.7
Turnaround Time
-
“The
general rule of the claims adjusting industry is that 30 days is the
usual and customary time limit in which to request an insurance company
to respond to a settlement demand. This is because the claims industry
is set up on a 30-day diary system.” Section 702.7
-
“Usually when an attorney puts a time limit of ten to thirty days on his
demand letter, the paperwork requirements are set aside, and settlement
authority is granted by telephone. The idea is that the paperwork can be
done on or after the date the case is settled, rather than before.”
Section 240
How Insurance Companies
Settle Cases
reveals how insurance companies evaluate and negotiate claims, and answers
the following questions:
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How do insurance companies value cases?
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What do adjusters need to settle a case?
-
Who makes the real decisions on insurance
cases?
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How do insurance companies value pre-existing
injuries?
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How do I prove my client really suffers from
a soft tissue injury?
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What is the structure of most claims
departments?
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How do I learn policy limits and get a copy
of the insurance policy?
Direct
answers to every one of these questions are given in Section 240 of How
Insurance Companies Settle Cases, and the book is chock-full of more
insurance company secrets.
Updated annually. ISBN 0-938065-43-2 Book price: $99.00
B7 |
| Reviews
"How Insurance Companies Settle Cases covers every
conceivable aspect of handling insurance claims ... Miller helps us demystify the claims
adjusters’ office and break through their secret code. The result is that you can
beat them at their own game and get the settlement you seek. ... By mastering the contents
of this book, attorneys who represent insurance claimants can take a lot of the guesswork
out of their practice, which will pay dividends both in time and settlement cash."
—Excerpted from Lawyers Weekly USA
"Your insurance books How Insurance Companies
Settle Cases and Insurance Settlement Handbook really
provide the practical tools needed to put it to insurance companies and negotiate
reasonable settlements."
—E.L. Brock |
