Greg Gitter and Connie O’Mara provide us with a second installment of short stories that illustrate some real world techniques on how to deal with difficult claims. In our first episode (March 18, 2020), we depicted the resolution of a workers’ comp claim that hinged on “reading the room” and adding king-sized sheets to the negotiation to sweeten the settlement … [Read more...] about Negotiation Scene, Episode 2
Letter agreements are usually confidential. As a result, there is a dearth of practical guidance on when, and how, to use them. Porter Wright Morris & Arthur LLP helps fill that gap. Your settlement negotiation checklist should include this entry: “whether, and how, to use a letter agreement.” A letter agreement—if well-drafted—can … [Read more...] about Using a Letter Agreement to Strengthen the Confidentiality of Settlement Negotiations
This will be the first in a series of brief articles by Greg Gitter with Legacy Claims Solutions; roughly based on the presentations he has given at AIRROC events, the articles portray the stories he uses to illustrate techniques he has developed to assist companies in resolving “old dog” workers' compensation exposures.The claimant’s wife is clearly not happy. … [Read more...] about Tips on How to Settle a Workers’ Compensation Claim
A well-executed watch list process can significantly benefit P&C insurance companies. From the initial establishment of the process, which includes identifying which exposures and claims to include, to the ongoing review of the process as new exposures and claim types emerge, actuarial, claims, and underwriting departments significantly impact the success of a watch list … [Read more...] about Eyeballing Excellence: Establishing and Executing an Effective Watch List Process/Policy
The insurance industry has shown through the years that it has a remarkable ability to respond to challenges, and to adopt and adapt, whether this relates to a new financial or regulatory framework or to respond to demands for new products and solutions. One of the biggest challenges that the European industry faced in recent years was the implementation of Solvency II, the … [Read more...] about The Legacy Market: Innovation. Flexibility. Creativity. Capital Appeal. That Order.
It is an unusual name, Julius. Christened, by my idealistic parents in the later 1950’s, named after the Czech anti-Nazi journalist Julius Fučík, and now with my work offices about a mile from where the Roman Emperor, Julius Caesar, invaded Britain in 55 / 54 B.C.; that serves as an introduction. I write, looking over my shoulder: “Beware the Ides of March,” the soothsayer’s … [Read more...] about Bygone Companies: Bannister’s Ballywick
Fred Pomerantz, Goldberg Segalla, and Connie O’Mara, O’Mara Consulting, had an opportunity to pose questions on the topic of rating run-off reinsurers to key players in the business: Gerry Glombicki, a Director of Fitch Rating Agency; Brian Johnston, a Senior Vice President and Chief Operating Officer of SOBC Corporation; Andrew Rothseid, President and CEO of RunOff Re.Solve … [Read more...] about RX for Runoff: Four Experts Expound
The global financial crisis of several years ago forever changed the way business looks at itself – as well as the way the public and regulators view business. The outlook of most business leaders has changed from the pre-2007 expected future of unlimited growth to a more somber and practical outlook – with more focus on potential loss of wealth, asset protection, increased … [Read more...] about Welcome to the New World of Run-Off. Part 2: New Restructuring Opportunities for the U.S. P&C Market