You are correct .There must be thousands of supplemental payments for recoverable depreciation and the irony is no one at Citizens give you any idea as to turn around time on payment or even WAG a rough time.As a guess probably 40% of claims are still open.
It seems the numbers are skewed. Vendors handsomely report their numbers and are quite content to show a good closure rate. My take is they are showing numbers of claims turned in to request authority to pay from carrier. Many of these claims are yet to be authorized for payment and yet to be paid to the insured. As a result I have had several adjusters contacting me regarding their invoicing to vendor. I for one would like to know the “real” numbers.
Terry Donohue
FL. Independent Prop. & Casualty Adjuster
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You are correct .There must be thousands of supplemental payments for recoverable depreciation and the irony is no one at Citizens give you any idea as to turn around time on payment or even WAG a rough time.As a guess probably 40% of claims are still open.
It seems the numbers are skewed. Vendors handsomely report their numbers and are quite content to show a good closure rate. My take is they are showing numbers of claims turned in to request authority to pay from carrier. Many of these claims are yet to be authorized for payment and yet to be paid to the insured. As a result I have had several adjusters contacting me regarding their invoicing to vendor. I for one would like to know the “real” numbers.
Terry Donohue
FL. Independent Prop. & Casualty Adjuster