In an ever-changing business environment, where constantly changing and evolving technology plays an important role, it’s more important than ever for claims professionals to understand how technology is utilized to maintain or continuously improve the efficiency and effectiveness of the claims services provided.
Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid to the insured for the loss. Settling first party property claims with premium paying insureds who have suffered a loss to their personal property or their business sometimes means making a payment for a loss that is caused by others. In those situations subrogation is the vehicle that allows an insurer to fairly compensate its insured yet hold those responsible for the loss to account for the payments made to the insured. This course is designed to provide some tools to assist claim handlers in assessing whether subrogation should be considered and how to maximize the effectiveness of a subrogation program.