Litigation
When does the first notification email go out from Premier Claims for the Suit Against Us date?
120 Days
Sales Team
How many days is a check held in our escrow account?
10 business days, but we try to get it out on the 8th.
POA
Power of Attorney
When does the Welcome Call take place?
After the LOR is submitted to the carrier.
What state can a Civil Remedy Notice be filed?
Florida
Who oversees Team Company?
Melissa
What is a check endorsement?
An insured/mortgagee must sign a check before Premie can deposit. Will vary based on check amount and State of loss.
LOR
Letter of Representation
What is a Civil Remedy Notice?
A civil remedy notice is a document that must be filed with the Florida Department of Financial Services at least sixty days prior to filing a bad faith lawsuit. A Civil Remedy Notice is a great tool to use when trying to recover owed insurance benefits from the insurance carrier. If the carrier has decided to not issue full payment, filing a Civil Remedy Notice, or CRN, with the department of financial services is a great method to resolve your claim. An attorney is needed to facilitate this process and a joint call will need to happen in order to be in agreement to move this forward.
Who oversees the IT Department?
Linda
States that checks need to be endorsed
Those states we don't have POA are: CA, CN, IL, MI, NY, OH, PA, TX
ACV
Actual Cost Value – depreciated value of property; physical depreciation –
replacement cost = ACV
After a client asks for a release what is the next step?
Put in a CS request for Mandy to start a billing sheet and simultaneously get the BDR on the call
Attorney, Paralegal, CS and Adjusting.
Who is our Senior Adjuster?
Kyle
What is the dollar amount that we can deposit checks without endorsements?
$350k - So anything $350k or below we are good to deposit in house without having to mail out for endorsements.
AOC/AOB
Assignment of Claim. Transferring ALL claim rights to a new party, typically a contractor.Assignment of Benefits: Transferring the right to funds to a new party, typically a contractor.
I'm selling my house what should I do?
Get an AOC!
1. Adjustng submits record to Lit Team
2. Lit Team reviews and send out to vetted attorneys.
3. Once attorney agrees to take it Alaina moves to Awaiting Attorney call
4. CS Request Initiated
5. Call to insured completed to discuss setting up joint call with an attorney.
6. Joint call w/ Premier and attorney
Who do you go to if you need a policy reviewed?
Ashley W or Alaina B
RCV - $90,000
Claim - 20%
Recoverable Depreciation = $10,000
Deductible = $1,000
Previously Paid = $6,000
How much is on the way?
How much is our fee?
How much is the check on the way?
$73,000
How much is our fee? (% of check - 20%)
$14,600
POL
Proof of Loss: A form that typically has to be submitted to the carrier within 60 days after they request it. Must be notarized and include total amount of claim being pursued.
How long does the carrier have to respond?
Every state is different and has different guidelines. Our team holds the carrier accountable for following these guidelines -- most states though are within a reasonable timeframe.