- 1,581
Would it be entirely inappropriate to call a claim rep on a total roof hail loss & ask if they can get the check written before the new year?
Calling Claim Rep - Asking to Close Claim - Loss Ratios
- Thread starter insurance1822
- Start date
- 1,481
Call him. He won't close the claim just for the YEND thing.
Not sure I understand.
Are the reserves significantly larger then the claim?
Or are you trying to close it this year to help out next year?
If its a reserve problem, you might get them to lower the reserves closer to the claim amount if its well into the process. Probably not, but its worth asking.
Dan
Are the reserves significantly larger then the claim?
Or are you trying to close it this year to help out next year?
If its a reserve problem, you might get them to lower the reserves closer to the claim amount if its well into the process. Probably not, but its worth asking.
Dan
- 783
^^Like Dan said.
Not uncommon for agents to ask adjusters to take a look at the reserves or to get a claim paid and closed out before year end. A few years ago, my Group asked all their agents to review all their claims with a certain carrier. They were so close to a next bonus tier level with that company, and it worked. Recieved an extra 5% that year.
I'm feeling pretty good right now about this years loss ratio's. I was crossing my fingers for the last month, hoping my phone wasn't ringing in claims.
This year my carriers will like me. Next year, who knows, right?
Not uncommon for agents to ask adjusters to take a look at the reserves or to get a claim paid and closed out before year end. A few years ago, my Group asked all their agents to review all their claims with a certain carrier. They were so close to a next bonus tier level with that company, and it worked. Recieved an extra 5% that year.
I'm feeling pretty good right now about this years loss ratio's. I was crossing my fingers for the last month, hoping my phone wasn't ringing in claims.
This year my carriers will like me. Next year, who knows, right?
Absolutely hate nov and dec for these reasons...companies are surprisingly all reviewing claims and raising reserves ...just in time to take back any contingency $$...or so it seems
My present this year was an extra $280,000 reserve bump on a claim from 2007!
Good luck to all my fellow P&C guys
Fortunately...looks like we still end up in the low 50's so uncle sam will get his bonus next year too
My present this year was an extra $280,000 reserve bump on a claim from 2007!
Good luck to all my fellow P&C guys
Fortunately...looks like we still end up in the low 50's so uncle sam will get his bonus next year too
agentonline
New Member
- 13
Not uncommon to ask for a review of the reserve or to try and close out low hanging fruit.
Sucks when your bonus is tied to others in your group. Got to take the good with the bad I guess.
Sucks when your bonus is tied to others in your group. Got to take the good with the bad I guess.
