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Joe Saggese
129 followers -
Owner of JMS & Associates.
Owner of JMS & Associates.

129 followers
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 Terrorism Risk Insurance Act (TRIA) Expires 12/31/2014

You may be aware the US Senate adjourned for the year without re-authorizing the Terrorism Risk Insurance Act (TRIA) and therefore, the Act will expire at midnight on 12/31/2014.

TRIA is a federal law that mandated all Carriers offer Terrorism coverage. The coverage itself is/was backstopped by the Federal Government above certain attachment points based on the Carrier's total direct written premium.

There remains a great deal of uncertainty in the marketplace. Several of All Risks' Carrier partners intend to take a "Wait and See" approach as they predict that Congress will reauthorize the Act when they reconvene in 2015.

Given this uncertainty, we recommend that you review the TRIA provisions of the Policies that elected TRIA coverage. Many policies contain a 'sunset' provision that may void TRIA coverage after midnight on 12/31/2014. Some insureds may have contractual obligations or covenants to maintain TRIA coverage.

Notwithstanding the pending expiration of TRIA, please continue to secure TRIA Rejection Forms for accounts. If Congress reauthorizes TRIA in 2015, there is a strong possibility the reauthorization could be retroactive to 12/31/2014.

Please note that All Risks, Ltd. does represent stand alone Terrorism markets and we are able to secure quotes on most risks. We would be happy to work with you on any risk that may be interested in exploring this coverage. Please contact your local All Risks broker or underwriter with TRIA coverage questions.

JMS& Associates
Main # 410-349-8840
Fax #866-511-1099
joe@jms4u.com

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What is needed to be known about Safeco's Auto claims process
 What you need to know about Safeco’s auto claims process



Having a solid understanding of a carrier’s claims process enables you to act as a trusted advisor to your customers and support a great claims experience. At Safeco Insurance, there are five primary steps in the auto claims process*. 

1. Notification and assignment
The most effective and efficient way to report a loss is to have your customer call Safeco's Claims Service Center, or warm transfer your customer and stay on the line as we assist.

With this first call, a Safeco customer service representative (CSR) will help the process move quickly. The CSR can arrange for a tow from the accident scene, set up an inspection or arrange for a rental car. Also at this time your customer will receive a claim number and contact information for the adjuster who will oversee the claim.

For straightforward losses such as a single-vehicle accident with no injuries, your customer's initial phone call to Safeco generally provides the information needed for him or her to move directly to step No. 3.

2. Contact and communication
If the claim involves a more complicated loss, your customer can expect a call from the assigned adjuster within one business day. During this conversation, the adjuster may verify contact information and coverage, get more details about the accident and explain the claim process so your customer understands what’s next. The adjuster will also set the expectation that he or she will return voicemail messages within one business day.

3. Property damage evaluation
Your customers may select their own repair facility or choose to work with a shop within Safeco's Guaranteed Repair Network. If a partner facility isn’t available in the area, your customer can meet a local field adjuster to receive a written estimate and then take it to the shop of his or her choice.  

4. Liability investigation
Here  are a few of the most common scenarios during this step in the auto claims process.

Safeco discovers your customer is not liable for the accident and the other carrier accepts liability. Your customer can process the claim directly through the other carrier or continue the claim through Safeco. If the claim is continued through Safeco, we advance the deductible, and work on your customer's behalf to recover it from the other carrier.
Another party claims your customer caused an accident that resulted in bodily injury or property damage. Safeco investigates the claim using information including recorded statements from the drivers and witnesses, police reports, scene photos and diagrams, and vehicle damage photos. Safeco is also responsible for preparing a defense on your customer's behalf in any litigation for a covered loss, and for resolving any claims brought against him or her.  
The other carrier has not accepted liability or Safeco discovers your customer is only partially liable. In this situation our subrogation team works to recover the money owed from the at-fault party. That may include the deductible and some out-of-pocket expenses such as a rental car. The subrogation process can be lengthy, and may take several months to resolve. 
If Safeco and the other carrier are unable to reach an agreement during the subrogation process, Safeco may decide to file for arbitration. During arbitration, an unbiased third-party reviews evidence presented by both insurance carriers, and determines who is at fault. This process may take several months to complete, and is binding.  
5. Settlement and payment 
If your customer has chosen to have his car repaired by one of our select repair facilities, Safeco will pay the auto shop directly. Safeco will mail a check to your customer if the car was a total loss or the work was done by a repair facility outside of our network. Once we’ve confirmed coverage details, your customer can expect to receive a check within three to five business days. 

If the claim involved subrogation or arbitration, your customer will either receive a letter explaining that Safeco was unable to recover the money owed, or a check if Safeco was successful.
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 What you need to know about Safeco’s auto claims process



Having a solid understanding of a carrier’s claims process enables you to act as a trusted advisor to your customers and support a great claims experience. At Safeco Insurance, there are five primary steps in the auto claims process*. 

1. Notification and assignment
The most effective and efficient way to report a loss is to have your customer call Safeco's Claims Service Center, or warm transfer your customer and stay on the line as we assist.

With this first call, a Safeco customer service representative (CSR) will help the process move quickly. The CSR can arrange for a tow from the accident scene, set up an inspection or arrange for a rental car. Also at this time your customer will receive a claim number and contact information for the adjuster who will oversee the claim.

For straightforward losses such as a single-vehicle accident with no injuries, your customer's initial phone call to Safeco generally provides the information needed for him or her to move directly to step No. 3.

2. Contact and communication
If the claim involves a more complicated loss, your customer can expect a call from the assigned adjuster within one business day. During this conversation, the adjuster may verify contact information and coverage, get more details about the accident and explain the claim process so your customer understands what’s next. The adjuster will also set the expectation that he or she will return voicemail messages within one business day.

3. Property damage evaluation
Your customers may select their own repair facility or choose to work with a shop within Safeco's Guaranteed Repair Network. If a partner facility isn’t available in the area, your customer can meet a local field adjuster to receive a written estimate and then take it to the shop of his or her choice.  

4. Liability investigation
Here  are a few of the most common scenarios during this step in the auto claims process.

Safeco discovers your customer is not liable for the accident and the other carrier accepts liability. Your customer can process the claim directly through the other carrier or continue the claim through Safeco. If the claim is continued through Safeco, we advance the deductible, and work on your customer's behalf to recover it from the other carrier.
Another party claims your customer caused an accident that resulted in bodily injury or property damage. Safeco investigates the claim using information including recorded statements from the drivers and witnesses, police reports, scene photos and diagrams, and vehicle damage photos. Safeco is also responsible for preparing a defense on your customer's behalf in any litigation for a covered loss, and for resolving any claims brought against him or her.  
The other carrier has not accepted liability or Safeco discovers your customer is only partially liable. In this situation our subrogation team works to recover the money owed from the at-fault party. That may include the deductible and some out-of-pocket expenses such as a rental car. The subrogation process can be lengthy, and may take several months to resolve. 
If Safeco and the other carrier are unable to reach an agreement during the subrogation process, Safeco may decide to file for arbitration. During arbitration, an unbiased third-party reviews evidence presented by both insurance carriers, and determines who is at fault. This process may take several months to complete, and is binding.  
5. Settlement and payment 
If your customer has chosen to have his car repaired by one of our select repair facilities, Safeco will pay the auto shop directly. Safeco will mail a check to your customer if the car was a total loss or the work was done by a repair facility outside of our network. Once we’ve confirmed coverage details, your customer can expect to receive a check within three to five business days. 

If the claim involved subrogation or arbitration, your customer will either receive a letter explaining that Safeco was unable to recover the money owed, or a check if Safeco was successful.
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We are just hanging in there with the cold weather !
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