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Proof of Loss as a Tool to Resolve Disputed Property Claims

First Party Property losses such as stolen construction tools and equipment, should be a straight forward claim. You send in documents to support the value of your claim, and then you expect to be paid by your property insurer. Typically, the claim is paid but sometimes things get derailed. Your property insurer may dispute the …

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Increasing Cost of Automobile Claims – Automobile Black Boxes and Economic Damages

California auto insurance rates are going up due to the escalating cost of claims. On average, insurers are paying out $1.14 for every $1.00 of premium they collect. Increased traffic on roadways, distracted drivers, escalating medical costs, rising repair costs, and finally, economic damages from severe auto injuries, are the reasons for these increased claim …

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Workers’ Compensation – First Aid

As you know, workers’ compensation costs and your Experience Modification Rate (EMR) are two key components of any competitive bid. Multiple small claims (below $7,001) can, and often do, adversely affect your EMR more than one very large claim. Accordingly, when thinking about how to reduce your premiums and EMR, one of the primary goals …

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Preparing for an Insurance Audit

Most general liability and workers’ compensation insurance policies are issued on an auditable basis. At expiration, insurers will use in-house or independent auditors to review your records, adjusting your premiums to actual exposures. Audits are typically conducted 60-120 days following your insurance policy expiration. The auditor will make an appointment to visit your office and …

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