This was asked in another thread, but there were no answers so I'm going to try again.
Have there been any news on possible layoffs in Claims anytime soon?
6 replies (most recent on top)
I always heard non renewal business referred to as retention. There is a close association between underwriting and the size and amount of claims,
Legacy? non renewed business. Be careful about this book of business. Many have high deductibles. cannot dump it on the laps of lazy adjusters.
What is legacy??
Claims appears to have survived the 2018 RIF cycle. Leadership (AV and NB) are clamping down on expenses, scrutinizing loss runs to see what they can dump in Legacy and developing no news ideas or proposals. 2019 will see departments get split as part of their book is sent to Legacy. That’s when the RIFs will commence.
On the plus side there are still good adjuster roles popping on LinkedIn every other eeek or so.
Is AIG reserving properly?
Claim count is down and we are not writing new business. Claims will be impacted at some point in time.