This Q&A was published in the January/February 2023 issues of Claims Magazine & PropertyCasualty360 on January 23, 2023.
Partner Wendy Stein Fulton discussed effective strategies for handling complex claims in a Q&A with the editor-in-chief of Claims Magazine. Addressing mistakes that insurers can make when handling complex claims, she says, “The worst advice I have seen is when insurers receive advice to pay a claim that is absolutely not covered because their coverage counsel is not familiar with the jurisdiction’s law.”
She also discussed the most important point an insurer needs to keep in mind when handling a complex claim, the most important factors insurers should be monitoring when managing these claims, the type of experts insurers should include in a claims investigation, and proactive steps insurers can take to mitigate legal liability.
Co-panelists included Rob Blasio, managing director of Gallagher Bassett Specialty, Jim Kremer, EY Americas claims transformation co-leader and managing director of insurance consulting, Ernst & Young LLP, and Hanif Sidi, EY Americas Property & Casualty Transformation Leader.
You can read the full Q&A below.