SIR Vs. Deductible 1
What does SIR stand for?
Self Insured Retention
True or False, every carrier reporting trigger is the same.
False
Who on Team 4 has been employed here the longest?
Carrie Millholland - Hired 4/18/1988
In a _____ policy there is typically a separate set of handling instructions, these instructions supersede the CHI.
Deductible
True or False, once a file is decontrolled you will never have to update the client on this file again.
False- always review for possible rereporting if the case remains open. If exposure increases or if the case goes to trial.
Which policy is paid out as part of the policy limit?
Deductible
Yes or No, can failing to report claims that meet reporting triggers to a carrier cause E&O for CCMSI?
Yes
Who is the VP of Claims?
Carrie Millholland
Legal Budgets are recommended or which type of policy?
Both- SIR and Deductible
How often do we have to follow up on a reportable claim, unless directed otherwise by the carrier?
90 days
Who has control on lien waiver if the claim has the potential to exceed the deductible limit?
A ___ is usually recognized as primary coverage.
SIR
How many years has CCMSI been a "certified great place to work?"
7
Which policy is paid out as an addition to the policy limit?
SIR
True or False, deductible carrier requires the issuing carriers name on all legal documents, state forms, and correspondence.
True.
Under what tab do you update and input all mandatory claim fields, such as when a claim is reported, carrier acknowledged, carrier updated, and decontrolled?
Policy Tab
Under what tab can you locate the carrier deviation summary?
Policy tab
What does CCMSI Stand for?
Cannon Cochran Management Services Incorporated
True or False, CCMSI has reserve and settlement authority over the insured’s deductible limit.
False
Under a "client funded" deductible program, who funds the claim account in advance?
The Client.
In the statement- the difference between a SIR and a Deductible policy is one “owns” the claim and one is primarily responsible for the claim, which policy would best be described as the owner?
SIR
Who has more direct involvement and control over the claim handling, reserving, settlement authority, and vendors used in an SIR policy
The Client
Who is the CEO of CCMSI?
Bryan Thomas
Does the Carrier or the client have "primary responsibility" of a deductible claim?
Under a self-insured retention- who is responsible for claim payments within the retention?
The Insured. (client)