Loss Run Requests

[Markthebroker]

Typical response from somebody who really doesn't know what he/she is talking about.

Do you want the codes or not? I'll provide them, I just ask that you hold up your end

 

[adjusterjack]

Do you want the codes or not? I'll provide them, I just ask that you hold up your end.

Do or don't. I don't care. My comments aren't worth two cents. People can accept them or reject them. You want to rebut my assertion, you provide your evidence. Your reward will be the self-aggrandizement that you so obviously require to justify your existence. I have no need to justify mine.

 

[Markthebroker]

I just want to point out your mistake so you ease up on giving people advice on issues you don't understand. It can be dangerous, and harmful especially if you are doing it with clients. That's my real concern. You should take a break from advising, and do some studying.

Here are several examples, but this is stuff you really should know already after 35 years.

2014 Oklahoma Statutes :: Title 36. Insurance :: §36-1204.1. Availability of loss runs and claims histories.
California Code, Insurance Code - INS § 679.7 | FindLaw

Loss Runs Explained - Southern States Insurance
Commercial Loss Run Procurement Service

 

[djs]

Maybe bad agent practice, but good business practice to avoid getting stiffed by a deadbeat, and certainly not blackmail.

No, very, very, very bad business practice. Its a good way to alienate a lot of clients. Also, its a good way to get DOI complaints lodged against you and yes, this is something they will respond to.

Still can't figure out in what way, this would be considered good business practice, other then to try to blackmail someone for agency charges that are not policy related. If we were talking a cert, then okay, I might agree with you. We are not talking certs that have an agency fee associated to them though, we are talking loss runs which you paid for when you paid for the policy.

 

[wornout]

I guess I hit a nerve, but what can the client do? This is not the first time I have a client say the agent won't provide the loss runs. As an agent, I know may be losing an account if they are asking for loss runs - but I do provide them.

I think the other agent is probably within his boundaries by asking to be paid for outstanding invoices before he loses the business. Trust me, I am not sure I even want this account if they don't pay - but sounds like this agency charges for every little thing - id cards, certificates, policy fees etc, not a good business practice in general but it is a large agency.

 

[Markthebroker]

Wornout, reread the first response. They can get loss runs direct from the carrier. They just need to be firm. There is no charge. I have been getting loss runs for 6 years. Ignore AdjursterJack, he clearly has no idea what he is talking about.

 

[jemelton]

Tell you what. Until you can name states and the statute numbers I will consider you one of those who don't know what they are talking about. Put up or shut up as we used to say in the schoolyard.

You are an ***

 

[CLPLDrew]

Hello! I have a prospect who has requested loss runs from current agent 3 times, in writing. The agent is refusing because the agency claims the insured owes them from an outstanding invoice. Is this acceptable? She also called the carrier directly and was referred back to the agent. The client says the fees are for certificates not premium. Can you withhold loss runs?

Have your insured sign an Acord 611 and send it directly to the carrier.

 

[Markthebroker]

Have your insured sign an Acord 611 and send it directly to the carrier.

Best answer yet. Each insurance carrier has a specific email address for loss runs. Best to find out what that is, then send it there.

 

[dantheman]

Get with the prospective client and have them call the carrier directly. Then have them file a formal complaint to the DOI.

I would check with the prospect and get and idea of how many certs they would need per year. Cert heavy + low premium = unprofitable.