Are Special Arbitration Opportunities Missed?
Do you think that your company is identifying all potential recovery opportunities? Your recovery team is undoubtedly doing its best to prepare and file case submissions when subrogation is routed its way for intended arbitration. Many of our members feel that Auto, PIP, MedPay, and Property Arbitration all offer great opportunities for members to pursue subrogation against identifiable and insured tortfeasors.
Interestingly, Special Arbitration utilization is far less common for most members, yet we have seen a 10% increase in Special filings in 2016 over 2015. Is your company one of the few that is taking part in this recovery surge?
The Special Arbitration Forum resolves disputes between insurers, self-insureds, and commercial insureds with retentions for claims involving third-party liability and/or disputes regarding concurrent, overlapping, or excess/primary coverage. The challenge faced by many members is that the opportunities for recovery are not always recognized, and therefore, those individuals who pursue recoveries through arbitration aren't even made aware that the potential exists.
Recognizing that contribution among co-defendants and concurrent coverage recovery scenarios need to be identified by the adjusters and representatives who handle the initial claims investigations, AF is offering Special Arbitration recognition training for members who want their liability staff to be more aware of such recovery opportunities.
If you think your company can benefit from learning more about Special Arbitration, help us help you by connecting our training staff (firstname.lastname@example.org) with your front-line claims handlers. Together we can hopefully open some eyes.
Article published in: November 2016 E-Bulletin