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Product Recall Claim Trends

Product Recall Claim Trends

Product recall events are a known risk of doing business across many sectors. The discovery of these concerns can come from regulatory agencies like the FDA, customer product testing, supplier issues, and/or a company’s own quality control process. Even companies with the best quality control processes in place are vulnerable to product recall risks.

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Simple Steps to Help Take the Bite out of Workers’ Compensation Losses

Simple Steps to Help Take the Bite out of Workers’ Compensation Losses

It comes as no surprise to employees or business owners that healthcare costs are on the rise. Many have felt the pinch of premium increases, higher deductibles, and soaring prescription drug prices. Unfortunately, those changes also serve to increase the total cost of Workers’ Compensation (WC) claims, making mitigating WC claim costs and controlling losses a primary concern for companies as claims get pricier and severity increases (source 2).

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Severity & Frequency of Truck Accidents is on the Rise

Severity & Frequency of Truck Accidents is on the Rise

Commercial trucking often serves as a trusted barometer for the U.S. economy. In 2020, America’s truckers carried 10.23 billion tons of freight and generated $732.3 billion in revenue (source 1).

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Claims Litigation Comes Back to the New Legal Normal

Claims Litigation Comes Back to the New Legal Normal

After largely stalling for nearly two years due to the Covid pandemic, the pace of claims litigation is beginning to pick up. At the same time, the number of new claims is likely to rise as businesses begin to rebound. Claims administrators, however, face a changed claims landscape. Across the United States, courts are moving toward more creative operations, although at varying speeds and with different goals. For instance, in New York State, the court appearances are still virtual and will likely remain that way; California courts are resuming in-person appearances and trials at mid-year. But every jurisdiction can be different, with varying restrictions on access. Some local courts prefer to remain virtual, and some opt for a hybrid approach. This necessitates a highly flexible approach to claims administration going forward with the ability to adapt to all scenarios. Nimble and proactive claims administrators that have shown they can perform well in all-virtual, hybrid, and traditional in-person settings will be best placed to handle this new normal.

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CRC Group’s Claims Advocacy Team Resolves Stalemate and Helps Avoid Bad Faith Litigation

CRC Group’s Claims Advocacy Team Resolves Stalemate and Helps Avoid Bad Faith Litigation

After a $14M property loss, CRC Group’s Claims Advocacy team successfully negotiated a settlement of a dispute over the business interruption portion of a claim, allowing the parties to move forward and close the claim. In doing so, the team helped the parties avoid litigation and repair their fraying relationship.

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