There is no doubt that the hardest line of business to write going into 2020 is Commercial Auto. For years, insurance carriers underpriced auto premiums and it caught up to them, resulting in auto being unprofitable for many carriers.
Loveland responded to pointed questions about the accuracy and/or stagnation of Xactimate prices, their system, Xactware's commitment to work with RIA to improve the process, and more.
Third Party Administrators (TPAs) have the potential to be part of a high performing business mix for restorers. The idea of assignments being doled out from the insurance company during slow patches, with low referral fees and little headache is appealing.
Over the last few years, contents cleaning and restoration has become an important service for restoration and remediation contractors to provide. Not only can it be profitable, it also offers contractors the opportunity to set themselves apart from their competitors.
Professionals in the restoration and remediation industry have seen a great deal of change over the years. However, a lack of financing sources or partners to the industry has seemingly remained constant.
What would you think if I told you that it would take three months to dry out a building after a fire loss? If I posted this on LinkedIn or Facebook, my comment screen would probably say things like “learn to dry a structure!” or “you’re the worst restorer ever! I can dry it in a few days.”
The Restoration Industry Association (RIA) is riding a powerful wave after its 2019 Convention in Phoenix, which had the highest attendance of any of its conventions in five years.
What do you do when the insurance company sends a check with your name AND the mortgage holder's name on it, and the mortgage holder refuses to sign without a chunk of the money?
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