Final Thursday, I posted Residents Property Insurance coverage Workers and Distributors Ought to Learn this Weblog Due to Systemic Wrongful Claims Dealing with, stating partly:
Our regulation agency had simply acquired a letter from Residents Property Insurance coverage, the place the letter date was roughly 60 days earlier than the envelope containing the letter was despatched. Public adjuster George Quintero of Vanguard Public Adjusters was complaining about quite a few letters from Residents Property Insurance coverage, which had been severely backdated. I’ve hooked up as a footnote some redacted letters that Quintero supplied.
My guess is that this has occurred a whole lot if not hundreds of occasions—I can not think about that the apply of backdating letters, most likely to cover proof of claims delay and inactivity, is remoted. I ponder if the claims division will report back to the Residents Board of Administrators about this and different issues being complained about by their policyholders on the subsequent Residents Board assembly.
So, my query to readers of this weblog is whether or not you suppose a Residents Property Insurance coverage press launch issued the very subsequent day following the submit was a coincidence or made in response to this weblog. The Residents Press Launch acknowledged:
In the present day, Residents Property Insurance coverage Company started notifying policyholders and brokers of potential delays in policyholder claims-related communications attributable to processing delays brought on by its contracted vendor, Exela Enterprise Options, Inc. Residents claims workers has additionally been alerted to those challenges and stand prepared to help policyholders.
Policyholders is not going to be adversely impacted by the mailing failures of the seller, and deadlines which will have handed shall be revisited and prolonged by Residents the place applicable.
Any policyholder who believes they’ve been impacted by delays ought to contact their agent, name Residents at 866.411.2742 to achieve their assigned adjuster or submit a request by way of Contact Us on Residents’ web site. Policyholders may also submit further claims documentation by the Residents web site.
To handle the backlog brought on by the seller’s failures, Residents is growing output from distributors and hiring an extra third-party vendor on an emergency foundation to course of the backlog. All impacted Residents claims paperwork have been despatched and the whole backlog for all different policyholder paperwork as described above shall be eradicated by mid-April.
Residents stays dedicated to shortly resolving any issues which will have impacted our policyholders.
Regardless, it’s refreshing to see an insurance coverage firm concern a public assertion that it made an enormous mistake in its claims dealing with. Each enterprise entity could have some embarrassing mistake happen sooner or later in time. Hundreds of policyholders not receiving written communications for 2 months following a significant disaster will lead to many complaints and pissed off clients. Stopping these actions, making up for them, after which stopping them from taking place once more is all that any claims administration can do as soon as the issue is found. On this case, discovering the explanation why the issue was not mounted sooner is one other step towards higher claims administration.
As a footnote, the seller whom Residents Property Insurance coverage blames these claims delay upon revealed a white paper, 3 Issues Your Claims Course of Ought to Do… And Learn how to Get There, which states partly:
It’s a truism: ‘If you’re within the insurance coverage enterprise, you’re within the claims processing enterprise.’ The promise to pay on a buyer’s declare of harm is what property and casualty firms essentially promote. After the insurance policies are written and the premiums are collected, all the things else revolves round processing claims—as cleanly and effectively as attainable.
An Afternoon Thought
Errors are all the time forgivable, if one has the braveness to confess them.