Many have condemned corporations as heartless, soulless enterprises. Trucking companies are often tarred with that same brush. Speakers at the 2012 TIDA Annual Conference suggest that the way trucking companies handle catastrophic claims might drive that judgment.
Some companies are trying to defuse these perceptions by early liability evaluation of catastrophic claims and engaging in quick communications with the family. Clif Cameron, a Senior Vice President of Deep South Insurance of advocates expeditiously deploying substantial resources to the accident scene to understand the physics of the accident. If liability is clear or if there are issues of fault, he tries to make quick contact with the family. He has found that often, he is the only one who will share all of the facts with the family.
Many times the police will say that the accident is under investigation or have minimum information. His goal is to speak with the family in less than 72 hours.
Mr. Cameron believes that by arriving early, he has an opportunity to show sympathy for the loss and offer assistance. His strategy also encourages the claimants to get a lawyer so that when discussions begin, a settlement can be effectively negotiated. Sometimes that is in a conventional mediation setting and sometimes it is around the kitchen table of the surviving family.
There are those who believe Mr. Cameron’s strategy is too aggressive. However, many carriers are adopting some of Mr. Cameron’s strategies. Many companies see that the Fast Track Strategy as an opportunity to avoid the festering anger that is found when a mediation happens over two years later. Hopefully it will preserve the good name of the company and protect the interests of the owners /shareholders.
All catastrophic claims need early attention. Whether this Fast Track Resolution system is for your company will be a corporate decision. But there can be advantages of cost savings from early resolution of claims.