ICA Risk Management Consultants

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Insurance / Risk Management Consulting Services

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Risk Management Consulting Service
Risk Management Program Marketing
Risk Management Program Audit
Design and Management of Certificate of Insurance Program
Employee Benefit Consulting Service
Risk Assessment Service For Directors & Officers
Executive Insurance Review Consulting Service
Out Sourced Risk Management and Placement Service
Mergers & Acquisitions Due Diligence Consulting Service
Expert Witness and Litigation Support Service
Contractual Review of Insurance Clauses, Indemnification Clauses and Lease Language
Lease Analysis and Expense Recapture Consulting Service
Business Continuity and Disaster Contingency Planning Consulting Service
First Party Property Claims Preparation and Recovery Service
Third Party Claims Management and Audit Service
Audit Service of Third Party Administrator/National Claims Counsel
Workers Compensation Claims Management Service
Environmental Management Consulting Service
Reorganization and Bankruptcy Service
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The costs associated with general liability claims, when administered by third party administrators or national advisory counsel, if left unmonitored, can balloon beyond control and lead to rate and cost increases for the Client and defeat the purpose of adopting a high deductible or self-insured retention program. ICAís Claims Management and Audit Service can assist the Client in taking command of the claims and controlling defense and administrative costs, while gaining valuable information about the nature, frequency and severity of the claims, as well as the claims management mechanism of insurance companies and third party administrators. ICAís services are provided by highly qualified associates and consultants with expertise in the insurance and claims handling industry.

ICAís Third Party Claims Management and Audit Service includes the following:

  • Provide comprehensive overview of the third party administratorís or national claims counselís procedures for management of claims and offer recommendations for improving efficiency. See ICAís Audit Service for Third Party Administrators/National Counsel.

  • Review open claims to evaluate potential means of cutting costs and streamlining expenses, including analysis of reasonableness of reserves and investigative costs; Review frequency of and necessity for periodic reporting by the third party administrator.

  • Analyze whether accidents or incidents are properly investigated, files are properly documented and evidence is preserved by the third party administrator/national claims counsel.

  • Analyze expediency and progression of claims management, suggesting strategies for speeding up and settling claims where feasible and in the Clientís best interests.

  • Coordinate activities of the third party administrator and trial counsel to provide feedback to the Client, allowing more input and voice for the Client in the claim management strategy.

  • Confirm that the data compiled by the third party administrator is properly and accurately reported to the Insurerís underwriting department which promulgates premium rates.

  • Provide services to establish, select and train personnel for a claims department within the Clientís organization, to handle claims in-house.

  • Monitor proper and timely reporting of claims by the third party administrator to the Insurer to ensure proper coverage under the policy and compliance with policy conditions.

  • Analyze claims to recommend appropriate levels of retention and funding mechanisms, and to pinpoint potential areas of improvement for loss control and prevention.

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