Comments on: Top 10 insurance company compliance issues http://www.ilstv.com/top-10-insurance-company-compliance-issues/ Your Breaking Insurance News Wed, 02 May 2012 18:09:02 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Top 10 compliance issues affecting P&C insurers | ILSTV.com http://www.ilstv.com/top-10-insurance-company-compliance-issues/comment-page-1/#comment-6461 Top 10 compliance issues affecting P&C insurers | ILSTV.com Fri, 19 Aug 2011 04:10:19 +0000 http://www.ilstv.com/top-10-insurance-company-compliance-issues/#comment-6461 [...] see what made the list in 2010, see Top 10 insurance company compliance issues  [...] [...] see what made the list in 2010, see Top 10 insurance company compliance issues  [...]

]]> By: Thom http://www.ilstv.com/top-10-insurance-company-compliance-issues/comment-page-1/#comment-9 Thom Fri, 23 Jul 2010 18:03:50 +0000 http://www.ilstv.com/top-10-insurance-company-compliance-issues/#comment-9 Interesting that the number one issue in both classes of insurance is the misshandling of claims. In Alberta particularly, the fact that 80+ % of claims are adjusted by unlicensed adjusters with no personal consequence for ineptitude and no personal accountability for continuing education, training or development clearly leaves the administration of this issue in poor hands. I can't tell you how many times in my career that I've had to point out to a staff adjuster that the basic premise of an insurance contract is one of "utmost good faith" with the particular onus on the insurer. However, there seems to be no desire to remedy the problem. Thanks for listening :-) Interesting that the number one issue in both classes of insurance is the misshandling of claims.

In Alberta particularly, the fact that 80+ % of claims are adjusted by unlicensed adjusters with no personal consequence for ineptitude and no personal accountability for continuing education, training or development clearly leaves the administration of this issue in poor hands.

I can’t tell you how many times in my career that I’ve had to point out to a staff adjuster that the basic premise of an insurance contract is one of “utmost good faith” with the particular onus on the insurer.

However, there seems to be no desire to remedy the problem.

Thanks for listening :-)

]]> By: Tim http://www.ilstv.com/top-10-insurance-company-compliance-issues/comment-page-1/#comment-7 Tim Fri, 23 Jul 2010 15:20:43 +0000 http://www.ilstv.com/top-10-insurance-company-compliance-issues/#comment-7 Reading between the lines, brokers are opening themselves up to E & O claims if they don't thoroughly document their files and reports. Reading between the lines, brokers are opening themselves up to E & O claims if they don’t thoroughly document their files and reports.

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