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In case you’re not aware, today is International Pi (π) Day, March 14 or 3.14. The day is named in honor of Arnaldo Pi, the inventor of mathematics, who realized if he calculated the ratio of the circumference of a circle to its diameter, he’d come up with 3.14. He also realized its decimal representation […]
In an earlier post, we wrote about the ways in which companies go about reporting the incidents that spawn claims. And we recounted a conversation we’d had with a prospect on the subject of that reporting. We recalled that post and that conversation in a more recent exchanges with another prospect. That made us think […]
A popular introduction to local news used to ask, “It’s 10 o’clock. Do you know where your children are?” Along the same lines, many companies in industries as diverse as insurance, transportation, construction, local governments, TPAs, self-insured groups, and restaurants are wondering where their claims managers and risk managers are. They might be in the […]
We had a conversation the other day that made us think about the ways in which companies — even or maybe especially companies that use TPAs — go about reporting the incidents that spawn claims. We were talking with a prospect, and the conversation went something like this: Us: What does your reporting process look like? […]
We don’t envy municipal risk managers. Having to contend with claims for property damage, workers compensation, and other liabilities; accidents on school yards and sports fields; resident complaints; and more other things than most of us can imagine must leave most risk managers wishing they were jugglers … or octopuses (octopi, if you prefer the […]
Last June, we published a post called, Clean Up Your PAID Act. It laid out the reasons that entities required to comply with the Medicare, Medicaid, and SCHIP Extension Act (MMSEA) of the Centers for Medicare and Medicaid Services (CMS) and its Section 111 reporting requirements would soon be facing new mandates. Those mandates would be […]
We were flipping through an older issue of Insurance Journal the other day and came across an article with this headline: “The Complicated Risk Exposures of Property Managers and Investors”. We were okay at first, especially when we read this: Property managers and real estate investors face bedbug exposures, mold behind the dishwasher, tenant and […]
Have you ever played Connect the Dots? At first it might seem like a bunch of dots and numbers. But as the dots begin to connect, the image magically appears. Restaurant claims are similar. At first it might seem like a bunch of events and numbers. But eventually general liability, personal injury, liquor liability, product […]
Especially for workers comp claims — and especially for companies that use TPAs (third-party administrators) — it’s crucial to have Total Processing Adaptability. What we mean is that your claims system should let you manage everything you want to manage and to have an optimally flexible relationship with your TPA(s). And it entails the ability […]
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