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Friday, March 6. 2009

Further evidence of the importance of subrogation

With headlines like this no one can afford to recognize and pursue every possible recovery avenue. The nation's top P/C firms saw a 67.7% drop in net income from 2007 to 2008, hitting a seven-year low. Those figures, compiled from a Highline Data report on sector earning in 2008, show the top 100 P/C firms netted only $15.8 billion last year compared with $48.8 billion the year before. The report finds the sector in its weakest position since right after the Sept. 11, 2001, attacks. NU Online News Service, Mar. 5, 2:43 p.m.

With industry average recoveries of 19% in Auto subrogation claims, and 8% in Property subrogation claims, lack of recognition and proper investigation of these cases can create further drain on the potential bottom line of all carriers, whether the local farm mutual, or the even the giants such as AIG and State Farm.

Posted by Jay R. Anthony at 12:52 | Comments (0) | Trackbacks (0)

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