Subrogation Services – Auto Claims – How To Maximize Recovery

Subrogation Services – Auto Claims – How To Maximize Recovery If you are a claims adjuster or manager or are employed in any capacity in the insurance claims industry, then you are familiar with the concept of subrogation, and your company probably has a subrogation department, or at least a subrogation specialist. The procedures used in subrogation are pretty standard across the board. Essentially, claims which are paid out due to the partial or full negligence of a third party are referred to the subrogation department where concentrated subrogation efforts are initiated.

The companies that realize the best recovery rates utilize a combination of methods to realize as many recovery dollars as possible. Depending on the quantity of claims coming into a claims department, the best recovery procedure can change dramatically. In general, here are the techniques my experience has shown me to be most effective. I will break down the processes by categorizing claim departments by quantity of new claims per month (keep in mind we are talking about automobile claims only).

0 – 500 new claims per month (small companies) For small companies, employing one highly trained, subrogation specialist is the way to go. An experienced specialist can identify, manage and collect on all potential recovery claims if the amount of new claims coming in per month is less than 500. The specialist should be auditing every claim for potential recovery. Additionally, the specialist should not wait until the claim has been paid to begin auditing and directing recovery efforts.

The recovery specialist should have the power to direct front line adjusters on the investigative needs of the recovery department prior to actually taking over the handling of the subrogation/recovery aspect of the claim. Working as a team is paramount when it comes to maximizing subrogation / contribution recoveries. By getting involved in subrogation early on in the claims process, an experienced recovery professional can anticipate obstacles to recovery and ogrodzenia betonowe ostrowiec eliminate them before they occur.

Using an active “eye” on recovery is one major part of recovery that many insurance claims departments neglect. The difference in recovery can be huge. 500 – 2000 new claims per month (medium companies) For companies in this bracket, it is beneficial to utilize a specialist and an assistant to the specialist. It is profitable to have the senior specialist train an assistant to handle all of the administrative tasks associated with managing a book of recovery business.

In addition, companies in this bracket may find it useful to employ the services of a good subrogation attorney. Locating and hiring a good subrogation attorney can be challenging as it is hard to find an attorney that will not neglect a company that doesn’t send a large quantity of assignments. There are a lot of considerations to be made when selecting a subrogation attorney, in fact, there are so many, I cannot include them in this article, but a great specialist should be able to screen an attorney properly, and there are some great articles floating around which were written by lawyers that give great advice on the general factors to consider when searching for a subrogation attorney.

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