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Claims
Services Claims
are generally handled by commercial insurers or third-party
administrators. Nevertheless,
RRGs/Group Captives often rely on a vendor to oversee the claim process and
coordinate activities with the outside claim company and defense
counsel. Also, the claims coordinator
provides appropriate management reports to RRG/Group Captive members, with
analysis such as trends, problem policyholders, and the like. This process takes time, and the quality
added can range from a basic paper-pusher to high value. ART/FDL
believes that one claims manager can oversee appropriately 200 claims. The
best way to compensate a program claims manager is on a “FEE FOR LIFE OF THE CLAIM”.
The world is a percentage of incurred claims, because “that leads to
raising the claims level to increase the claim managers’ income”. The
net effect may be equal to 5% of the Gross Premium for a Group Program, where
the average premium is $5,000 or less, depending on the Industry the group
represents. |
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F. Darrell Lindsey State Approved Captive/RRG Manager |
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BACK – USE ARROW TO PRINT USE PRINT PREVIEW |
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