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Posts Tagged ‘Insurance Agency Practice’

Conflict = Commerce

If you are negotiating an outcome among different parties, Trust is a paramount factor in the negotiations. Try too choose an independent,fair facilitator,rather than entrenching in a position and fighting it out with attorneys. It is not to their advantage to resolve your issue without considerable conflict. This is a lot of the work I do for people. Find a trustworthy facilitator,air both sides of the issue, and FIX IT! Don’t let a whole tribe of people charge you an arm and a leg to do what is (and was) right in the first place. Remember Conflict = Commerce!

Are Dog Bites a Homeowners Problem for Insurers?

Check out the following Insurance Journal article if you wonder if dog bites are a problem for insurers:

http://www.insurancejournal.com/news/east/2012/09/19/263512.htm

The Insurance Company “Bluffing Letter”

Have you had a client whose claim was denied but you felt really uncomfortable about the coverage determination?

I have been working on quite a few denied claims in the recent future.   It have become apparent to me  that Insurers are using a strategy to issue a “bluffing letter”.    It looks like a denial and will discourage all but the most resolute Insured or Agent.

The letter basically says, “We don’t this covered and gives a litany of reasons.”   We will not indemnify or defend this claim….!”         The Insured files it and basically goes away without questioning it.    Some of these claims should be covered.  I have gotten several paid recently and in some we have filed suit.   (Of course, there are also many legitimate denials.)

Agents…  Don’t let your Insureds be taken advantage of this way.  ALWAYS follow up and when you need to involve an insurance expert such as myself, call us!.    “My business is knowing your business”. Let us help you protect your Insureds!   We can likely keep you out of an E & O claim!

 

 

Beware the Skunk!

For over ten years I have been discussing the “narrowing” of coverage due to the increased pressure from reinsurers  and rating agencies for increased profits and decreased loss ratios.   One of my key examples has been a broadening definition of “pollution”.

In the past two months I have either been involved in or heard of several claims being denied for “skunk spray”. This is a perfect example of profiteering.   A skunk is neither a vermin nor is skunk spray pollution.      But, beware…   Some have denied altogether and some have denied coverage for contents, EVEN WITH AN HO 15 ENDORSEMENT!

Can you find the “Fear” in your organization?

Fear in organizations ruins strategic initiatives.    Self interest and fear run together.   I am not talking about people literally quaking in their boots, I am talking about people being afraid that YOUR strategic initiatives will undermine their position or their power. Fear is a drastic impediment to teamwork!  Fear is a terrible impediment to  living our lives fully.

Seek out the fear in your organization. Communicate at all levels openly. Make communication the norm and accept it without judgment.   Fear destroys initiative.  FOLLOW the FEAR you’ll FIND the problem. What are the FEARS in your organization? Can YOU really find out?

In our strategic planning sessions, we find fears and make them advantages!

Your people will not tell you their fears unless they feel safe.   Be an effective leader and learn to listen.