"What is one area that you believe the claims/litigation professions should resolve to improve in 2020?"
“We should resolve to expose medical buildup. Plaintiffs’ firms that direct their clients to get unnecessary medical treatment from doctors and chiropractors to drive up the value of a claim are committing fraud. Claims professionals should report these attorneys and doctors to the Department of Insurance in their respective jurisdictions.”
Stacey Jackson, General Counsel, Golden Bear Insurance Company. CLM Fellow since 2011.
“Diversity, equity, and inclusion. Studies show companies that improve in these areas (including law firms) are more profitable, better equipped to meet clients’ needs, and have more engaged employees. While gains have been made, the insurance and legal industries can improve. Join CLM’s D&I Committee to learn more.”
Teresa M. Beck, Chair of Arizona Litigation & Co-Chair of California Litigation, Buchanan Ingersoll & Rooney. CLM Member since 2012.
“Apply traditional managerial discipline to claims management. Good planning and cost controls are not inherently difficult to structure, but the discipline to regularly redirect the team back to the plan for a comparison to actual performance can be. Eighty percent of learning is feedback.”
Pete Fowler, President, Pete Fowler Construction Services. CLM Fellow since 2012.
“Improving communication. In my mind, there is no such thing as too much communication when it comes to resolving cases. It allows for better transparency about objectives, promotes creative strategies, and fuels alternative paths to resolution. Every general counsel, risk manager, and claims professional professes to want more communication; attorneys share this desire.”
Stephen J. Henning, Founding Partner, Wood Smith Henning & Berman LLP.
CLM Member since 2012.
Percent of business owners concerned that their employees could commit workers compensation fraud.
Percent increase of financial returns of companies in the top quartile for racial and ethnic diversity when compared to their respective national industry medians.
Percent of employees who say they work at organizations that lack diversity in leadership positions.
Source: Harvard Business Review
$400 - $700
Estimated annual costs of insurance fraud on the average U.S. family, in the form of increased premiums.
Cumulative cost per worker per year due to productivity losses resulting from communication barriers.
Source: Holmes Report