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.
When I first heard the term BATNA (Best Alternative To a Negotiated Agreement), I thought to myself, “No way! That’s a polite way of being okay with failure.” But I soon found that, regardless of where I turned to research negotiation strategies and tactics, the concept came up. The more I read about it and the more I let the theory marinate, the more practical applications I found for it.
I hate being backed into a corner. Whether it’s an employee trying to hold you hostage for a raise or an insurance adjuster standing his ground on the payment of a claim, there is a feeling of helplessness and lack of control which is enough to drive most Type A personalities crazy. This can lead to anger, resentment, and more often than not, regrettable actions.
When it comes to business, trust and relationships are key. In mid-June, I heard Mike Gallina speak at the Violand Executive Summit. Gallina is the Vice President of Communications and Community Engagement for AultCare Health Insurance Plans.
Almost one year after my working career in restoration started, I was baptized by accepting a request to look at a boat fire. I had absolutely no knowledge of marine vessels, how they were constructed or what the component materials were, let alone how they react when they burn.
In disaster restoration, most negotiations occur between the contractor’s estimator or project manager and the insurance adjuster. The negotiation tends to be adversarial in nature, and generally ends with one of the parties feeling like they were cheated or taken advantage of.
Fire damage restoration seems pretty straight forward from the outside. Remove and clean the contents, clean and restore the home, remove odors, bring the contents back, and move on to the next job. Yes, that is a very high birds-eye view of the process, but covers the basic steps.
Check out the July 2020 edition of Restoration and Remediation! The July 2020 issue of R&R continues the discussion of handling COVID-19 cleaning jobs. Experts weigh in on insurance coverage, how to make sure contracts are effective and spare contractors from legal disputes, lessons from the pandemic, and a standard of care when doing this specialty work.