Enlist America’s claims adjusters in pandemic recovery efforts
America’s claims adjusters have the skills, tools, and know-how to assist in the distribution of economic relief to qualified small businesses.
In the aftermath of calamitous events, many times before the dust fully settles, American businesses look to their insurance policies to help put the pieces back together. In the wake of fires, hurricanes, floods, and any number of other catastrophic events, America’s claims professionals are there to help those affected quickly access the resources they need to resume their lives.
Without question, the coronavirus pandemic is an unprecedented event directly or indirectly affecting nearly every single American citizen. Every week, reports trickle in about how America’s business community — especially its small business sector — is coping with the effects of this unprecedented nationwide lockdown. Both during the pandemic emergency and eventually, when the public health emergency will be over, businesses across the country need quick and seamless access to financial relief — whether in the form of emergency grants/loans from the federal government or otherwise.
Mitigating the immediate and long-term economic impact of COVID-19 by ensuring American businesses can access the relief they need will require never-before-seen cooperation and partnership. On this front, America’s 125,000+ independent claims adjusters are here to help. As licensed and credentialed industry claims professionals who are skilled in the process of claims evaluation, payment distribution, file documentation, and fraud detection, independent adjusters are well equipped to lend their expertise to claims and/or payment processes demanded by these recovery efforts.
Being able to navigate complicated insurance policies is not the only skill in adjusters’ toolboxes. Adjusters are also well equipped to help administer federal and local relief. The processes of federal loan origination, distribution, and adjudication of forgiveness claims will likely mirror existing claims management processes for insurance policies. And after such grants or loans are approved, independent adjusters are well accustomed to executing detailed financial controls, managing complex banking arrangements, and employing automated payment channels, from traditional checks to electronic funds transfers. With more than $45 billion in claim payments processed annually, America’s claims adjusters have the skills, tools, and know-how to assist in the distribution of economic relief to qualified small business borrowers.
Our country has faced an unimaginably difficult time as healthcare providers, public health experts, and government leaders have worked tirelessly to provide guidance and safety measures surrounding this pandemic. There is hope in witnessing how people step up and offer their skills and services — from frontline healthcare providers putting themselves at immeasurable risk to everyday citizens sewing masks for their friends and neighbors. America’s claims professionals are proud to do what we can — as first responders in our own way — to help Americans recover from the COVID-19 emergency and get lives and businesses back on track.
John Gragson (john.gragson@sedgwick.com) is senior vice president – catastrophe at Sedgwick. Jon Stambaugh (jon_stambaugh@gbtpa.com) is senior vice president – carrier practice at Gallagher Bassett Services, Inc. The views expressed here are the authors’ own.
Related: