The CRC Claims Advocacy Team recently came to the rescue of a retail agency partner. They stepped in to help with a contentious builder’s risk claim that involved delay and damage to an office building project that occurred over a 7-8 month period due to rain, flooding, and a hurricane. The source of the water damage impacted both the coverage analysis and the number of deductibles that should apply. In this instance, the insured believed there was only one claim and one deductible, while the carrier sought to apply three.
The insured had already been in contact with the Insurance Commissioner’s office, and was ready to file a bad faith action. By the time CRC’s Claims Advocacy Team was informed and stepped in to collaborate with the specialty insurer’s Senior Claims Director, the claim had lingered for a year while the carrier continued to request additional inspections and information without making any payment towards the loss. CRC Group’s Claims Advocacy team worked as an insightful mediator and was able to convince the carrier to make an initial payment in good faith. However, at this point the insured was so distrusting of the carrier, when the carrier offered to partially fund the claim while CRC assisted in untangling the claim, the insured refused the offer in fear that accepting would cause the carrier to feel less pressure to respond to the full claim. Although, the retail agent was very grateful for the progress CRC’s Claims Advocacy team was able to make in a very short time, they were still so frustrated and disappointed with the carrier that the agent advised she would be engaging a competitor to market a new builder’s risk account that was starting in Florida.
The insured’s CFO stated he would be willing to accept a settlement for $450,000 if it could be done within a week; otherwise, they’d be headed to the courtroom. He put the team on notice to file with the state’s Department of Insurance within a week if the claim had not been resolved. The carrier stepped up and agreed to pay $452,000. The agent was ecstatic when CRC called with news that the carrier would pay $452,000 and decided that CRC was the partner for them on their upcoming Florida Builders’ Risk project.
BOTTOM LINE
The retail agent was highly complementary of the responsive service the CRC Claims Advocacy team provided, generating more progress in a few weeks than had previously been gained over 12 months. The CRC team’s high-level claims management expertise enables them to effectively lessen animosity and build trust because they understand the claims process and carrier perspective. Often carrier claims personnel are more willing to work with CRC’s Claims Advocacy tem because they are confident in their background and expertise.
The Claims Advocacy Team’s claims knowledge, mediation skill, and ability to act practically and reasonably to gain the trust of all parties, is an invaluable way to solve complex claim problems, and back up our commitment of placing you first.