Jon Held is one of the best advocates I have ever seen and heard argue to keep down the amount owed to policyholders. He is a brilliant business person and has built an exceptional insurance consulting company on virtually every aspect of the valuation process for insurance claims. I called his company a "surrogate" for tort litigants and the insurance industry media noted.
Claims Journal noted this in, Growing use of & # 39; The article noted the "tit for tat" between Jon Held and me on this issue:
Merlin specifically mentioned two companies that perform many of the functions traditionally performed by licensed professionals: J.S. Hald and Ladder Assist. In his blog, Merlin said that J.S. Held is a "fantastic advocate for the insurance industry."
But during a telephone interview on Friday, Merlin said that good work is not good news for policyholders.
He said that insurers provide the authority and indeed all the rules of expertise for ̵1; essentially – people who are not licensed. & # 39;
& # 39; It is the job of adjusters to make sure they pay every penny that (policyholders) are entitled to, & # 39; & # 39; in Merlin. Sellers will not tell you all the benefits that you can get for yourself.
For example, Merlin said that a policyholder who has been injured in a custom home may have the right to have an architect supervise the contractor's work. Policyholders whose homes are destroyed can change the design of the structure by contributing their own funds to the reconstruction. Policyholders are not told they have that flexibility if the insurer sends out a provider instead of a licensed adjuster, he said.
Jonathan Held, CEO J.S. Held, said he appreciates Merlin's contact for his company. Admiration is mutual. Held said Merlin is a friend.
Friend or Foe, I usually say "no, no, no" to the low ratings of JS Held. But this misses the point.
Insurance adjusters, whether corporate or independent, must ensure that policyholders are aware of all their rights, get money paid as quickly as possible and mitigate the type of loss. The claims administration must have a sufficient number of adjusters who, with adequate authority based on education, experience and trust, approve benefits so that the policyholder's expectation of quick payment is delivered. It is good faith management.
What I described is not what happens. It's not JS Held's fault. That's the "bean counter" error. They delay claims. They want injury costs to be reduced by not training injury adjusters so that they can have authority and can be trusted by their own peers.
I did not just do this. Read the three-part series run by the insurance industry Claims Journal that made these articles on this topic in:
For policyholders, we just want the insurance industry to train people to take care of them and understand how the product should help the policyholder and provide fast payment rather than A fight. The industry sells a product that they should understand requires that they immediately help policyholders get all the benefits they deserve.
Does anyone agree with my last sentence? If not, why is this not happening?
On another note, Steve Badger has had so much trouble with me that he wants an even bigger show that really tramples yours and has added Jon Held to his side while adding Jonathan Wilkofsky to my side as we discuss trends in the evaluation process at the upcoming Windstorm Insurance Conference. This is a highlight fight against death that you do not want to miss, even if it turns out to be virtual.
We will discuss these topics soon Tuesday at 2 with Chip Merlin . I have two guests and hope you can join us. Here is the link to this afternoon's session.
Thought of a Tuesday afternoon
Creativity is a high-class word for the work I have to do between now and Tuesday. 19659019] —Ray Kroc