Commercial subrogation is an area of sizeable opportunity. In an industry where 15% of all claims are closed with a missed subrogation opportunity, there is a tremendous upside to a partnership with SecondLook. Missed opportunities can happen for a variety of reasons. The root cause often comes down to the liability investigation and the identification of all potential tortfeasors. Unlike straightforward claims, commercial claims can contain a web of complexities. Whether it is a product defect, cargo, excess, disability or commercial auto or trucking accident, there are a lot of questions that must be asked. Our commercial subrogation team is comprised of experts who have handled such claims for an average of 20 years each. Their focus is to dig deeper into claims to identify anyone potentially at fault or partially at fault for a loss.
Auto Recovery on auto damage paid by Self-insureds, Trucking companies and Delivery providers for their owned, leased and fleet vehicles. Plus, subrogation and lien recovery on PIP, Med-Pay and Workers Compensation benefits paid to their employee drivers and/or passenger.
Excess Claims Recovery on money paid by Insurance companies in Excess of a Primary carrier when another party contributed to the liability or is contractually responsible. Any recovery recovered on the loss would be paid top down to the Excess first to reduce the overall net amount for the loss.
Disability Claims
We provide subrogation services on Short Term & Long-Term Disability claims for the recovery of monies owed due to the liability of third party, which includes negotiation & recovery of liens for benefits paid to the insured from any settlements with the liable third party(s) and/or their insurance company.
We also perform recovery of any advance benefits paid to the insured in expectation of the insured receiving their Social Security disability payments. The insured is contractually obligated to reimburse their disability insurer for advance benefits received upon approval of their Social Security disability and their receipt of their initial payment from Social Security with retro benefits.
their disability is finally approved by Social Security and they receive initial payment from Social Security for retro benefits.
Our SecondLook closed file review often identifies claims where liability was missed. With over 600 years of collective experience, the SecondLook team of experts is well versed in identifying subrogation on files that were closed by front line adjusters. We utilize our unique SecondLook Technology capabilities that encompass advanced analytics and industry leading domain expertise to achieve this goal.
Our capabilities encompass the entire subrogation ecosystem. While the closed file audits are used to identify missed opportunities, we have an entire ecosystem dedicated to subrogation. We begin with early identification at FNOL and include outsourcing, staff augmentation, CAT support, arbitration, litigation and uninsured claims. Our clients typically see a substantial lift in recoveries when utilizing our services, with some carriers reporting a lift of 20-30% in bottom line recoveries.
Ocean and inland marine can present challenging subrogation scenarios. Our team of dedicated specialists have extensive experience in this area. We focus on the recovery of package limitations and limits of liability on Ocean, Inland & Aviation cargo claims, Ocean Shipping Cargo, Railroads, Trucking, and Air Cargo Carriers for damage to cargo for Self-Insureds and Insurance Companies subrogation on behalf of their insured’s damaged, destroyed, stolen and lost freight shipments.
Our team is focused on finding evidence and circumstances to breach the package limitations or limits of liability to maximize recovery on the shipping loss.
Beyond Ocean and Inland Marine, our capabilities encompass the entire subrogation ecosystem. While the closed file audits are used to identify missed opportunities, we have an entire ecosystem dedicated to subrogation. We begin with early identification at FNOL and include outsourcing, staff augmentation, CAT support, arbitration, litigation, and uninsured claims. Our clients typically see a substantial lift in recoveries when utilizing our services, with some carriers reporting a lift of 20-30% in bottom-line recoveries.
