June 24, 2019

Coping with the “R” Word … and it’s not Risk

It’s “R” as in recession.

Many economic pundits predict that the American economy will drift into recession in 2008. Others believe that the economy is already in one. Put aside temporarily whether they are right or wrong. (One pundit once said that, if you took all the economists in the world and laid them end-to-end, they would still point in every direction…).

Assuming the Cassandra’s are accurate, we can speculate on six areas of impact for claim professionals:

  • Tough economic times might produce an uptick in insurance claims, as folks with marginal claims have a heightened financial incentive to collect from insurance
  • Increased insurance fraud, for the same preceding reasons. (Perhaps a favorable time to be positioned in an SIU)
  • Less economic growth may equal lower sales which, in turn, lower insurance premiums. This might increase pressure on insurers to squeeze expense ratios by trimming claim staff and foregoing referrals to outside TPA’s
  • Companies may belt-tighten and view a full-time risk management job as a “frill,” eliminate the job and outsource the role to their insurance broker
  • Possible spike in workers compensation and employment practices claims if companies enact sizable workforce layoffs
  • Claim managers may be under greater pressure to “rank and yank,” shedding departments and staffs of performers viewed as marginal or lacking in growth potential

What other “claim fallout” do you see from an economic recession?

Another follow-on question is, how can savvy claim professionals “recession-proof” their own jobs and careers? We will tackle that issue in a forthcoming blog post.


  1. Anonymous says:

    Do You interesting of [b]Viagra 100mg dosage[/b]? You can find below…
    [size=10]>>>[url=http://listita.info/go.php?sid=1][b]Viagra 100mg dosage[/b][/url]<<<[/size]

    [b]Bonus Policy[/b]
    Order 3 or more products and get free Regular Airmail shipping!
    Free Regular Airmail shipping for orders starting with $200.00!

    Free insurance (guaranteed reshipment if delivery failed) for orders starting with $300.00!

    Generic Viagra (sildenafil citrate; brand names include: Aphrodil / Edegra / Erasmo / Penegra / Revatio / Supra / Zwagra) is an effective treatment for erectile dysfunction regardless of the cause or duration of the problem or the age of the patient.
    Sildenafil Citrate is the active ingredient used to treat erectile dysfunction (impotence) in men. It can help men who have erectile dysfunction get and sustain an erection when they are sexually excited.
    Generic Viagra is manufactured in accordance with World Health Organization standards and guidelines (WHO-GMP). Also you can find on our sites.
    Generic Viagra is made with thorough reverse engineering for the sildenafil citrate molecule – a totally different process of making sildenafil and its reaction. That is why it takes effect in 15 minutes compared to other drugs which take 30-40 minutes to take effect.
    Even in the most sexually liberated and self-satisfied of nations, many people still yearn to burn more, to feel ready for bedding no matter what the clock says and to desire their partner of 23 years as much as they did when their love was brand new.
    The market is saturated with books on how to revive a flagging libido or spice up monotonous sex, and sex therapists say “lack of desire” is one of the most common complaints they hear from patients, particularly women.

YouTube You Tube     Facebook Facebook     Twitter Twitter     Linked In Linked In
Disclaimer   |   Sitemap   |   CLM Advisors
Quinley Risk Associates, LLC © 2012. All Rights Reserved.
Website support provided by Aivilo Web Solutions, LLC.