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Property Loss Cost Containment Strategies: Cheaper Isn’t Better

How carriers and adjusters respond to property losses can reduce the impact of the claims as well as the costs, according to Lynne Jurek Shannon and Doris T. Bobadilla, defense attorneys with the Galloway, Johnson, Tompkins, Burr & Smith law firm.  Both said the strategies for cost containment on property damage claims remain the same across the country.   Adjusters no matter where in the country they are can work by the same rules and use the same types of tips in order to accurately and as inexpensively as possible handle their claims,” said Shannon. “The types of claims are the same and the objectives of cost containment are the same.”   The attorneys reported that nearly 73 cents of each premium property casualty dollar goes to staffing, investigation, defense and resolution of claims. Evaluating expense costs alone won’t reduce this figure; rather, a careful examination of the claim will, the attorneys said.

Cheaper Doesn’t Equal Better …