Avoid Unfair, Lowball Insurance Settlements
Dr. Lori Kalie
Reading Accident & Injury Care
This video shows how insurance companies determine auto accident claims values and how to prevent unrealistic, unfair, low ball settlements. You will see how 80% of today’s claim values can be lost without this information.
A new Business Processing Improvement Culture (BPIC) was created. From there, Core Claim Processing Redesign (CCPR) was created. The result is that claim values have decreased by 2/3’s. Today, the insurance companies have been cited for unfair settlement values.
Decision Points determine settlement value. BPIC and CCRP use a series of decision points. Each point is assigned its own value based on the insurer’s rate and formula.
Since 2004, the insurers have ignored a superior court order to release the decision points claiming a right to civil disrespect.
After an 18-month multistate investigation by National Insurance Commissioners (NAIC), they found many violations and the insurance companies agreed to pay $10 million in regulatory settlements for unfair claims handling practices in BPIC.
The CFA states that injured consumers receive less than what they deserve under their policies.
A superior court order ruled that the policy of CCPR is harmful to the public.
CNN recently reported that if you are in a car crash, you will be in for the fight of your life and will have trouble getting insurance companies to pay for the injuries, even if it was no fault of your own.
If you are an attorney, you can now include decision points in your demand letter. Missing decision points equal missing settlement dollars.
There are 43 decision points. 30 are medical decision points and 13 are legal and administrative decision points that should be contained in each demand letter.
Most decision points are missing in the demand letter. 80% of the decision points are usually missing, which means that 80% of the claim value is list.
You can produce a demand letter that can include all of the decision points. The demand letter could be 8 -15 pages to accommodate all of the decision points.
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Low Insurance Settlements
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