Claims Costs

Commentary | My SPOT

Commentary – Expect Gulf Oil Slick Claims To Be Extensive And Impact Multiple Lines Of Business
ByMarc Lanzkowsky June 5, 2010

We still do not truly understand the entire impact from a claims perspective of the tragedy that has unfolded as a result of the Deepwater Horizon rig accident in the Gulf of Mexico. Losses are being estimated in the $30-$40 billion range with only a fraction of that number covered by insurance. What has recently been reported, however, is an increase in premiums for offshore energy coverages. What is next? No one really knows. The Claims SPOT comments on the some of the issues facing the industry.

Read More Commentary – Expect Gulf Oil Slick Claims To Be Extensive And Impact Multiple Lines Of Business
SPOT on Costs

2 Cost-Cutting Solutions To Get Work Done Without Overloading Claims Handlers
ByMarc Lanzkowsky March 31, 2010

Too Many Tasks, And Hiring New Staff Is Not An Option? (Part One of Two) Not every company can afford to hire dedicated teams to focus on cost-saving initiatives such as subrogation or Anti-Fraud. Sometimes there is simply not enough work to justify a full-time position internally. Regardless, failing to focus on cost-saving programs can…

Read More 2 Cost-Cutting Solutions To Get Work Done Without Overloading Claims Handlers
Commentary | My SPOT | SPOT on Costs

The 5 Essential Components of Defense Attorney Reports That Can Improve Claims Costs and Outcomes
ByMarc Lanzkowsky March 14, 2010March 17, 2010

Why are Attorney Evaluation Reports sometimes so light? I was recently conducting an audit of claim files and had the opportunity to review a significant number of Attorney Evaluation reports from a variety of law firms. Like many other things in life, some were better than others. What seemed to be most glaringly consistent was the inability of counsel to truly provide an assessment of exposure and what the case is worth. Every counsel evaluation report should contain 5 basic components that I outline and attorneys should be required to provide their actual valuable opinion. [More…]

Read More The 5 Essential Components of Defense Attorney Reports That Can Improve Claims Costs and Outcomes
Medicare Secondary Payer | SPOT on Ops

Warning – Medicare Secondary Payer (MSP): Government sends strong message and goes after non-compliance
ByMarc Lanzkowsky February 3, 2010March 21, 2010

If you are an insurance company or self-insured, and make payments on liability or workers’ compensation claims, be aware that the Federal Government has filed a lawsuit signaling their intent to be aggressive in seeking reimbursement. As reported in Business Insurance, this “case breaks new ground because CMS simultaneously named insurers, settlement beneficiaries and plaintiffs attorneys all in one lawsuit.” This case should alert all that if you make a payment on an injury claim, and fail to let the Government know about money they should be collecting, they will come after you.

Read More Warning – Medicare Secondary Payer (MSP): Government sends strong message and goes after non-compliance
Medical Malpractice | SPOT on Issues

Medical Malpractice report shows increased severity despite lower frequency
ByMarc Lanzkowsky January 28, 2010June 14, 2010

The Insurance Information Institute has just released a comprehensive look at Medical Malpractice outlining recent developments and industry trends (read more at Medical Malpractice: The Topic). This article breaks down the industry by looking at, among other things, market conditions and national developments. Key highlights include Damage caps can save $54 Billion in medical costs…

Read More Medical Malpractice report shows increased severity despite lower frequency