"The only thing you have to
understand is my phone number," quipped Ron Oates in
beginning his October 21, 2005 luncheon meeting address to
the Mid-Valley Claims Association. Oates, a seasoned claims
man of more than 20 years, is the president of Heritage
Companies. He shared his presentation on contents inventory
controls.
Following a gaff in communications regarding Mr. Oates'
being the speaker (Oates, not Hall), Ron made the most of
it.
Heritage Companies has grown from its original mission of
providing independent claims adjusting services, to
incorporating contents inventory services as the demand and
technologies have developed.
Mr. Oates expressed the sense that the adjusting side of the
business is being phased out of the claims process. He began
his expanded role in contents inventory as a result of a
software purchase made to accommodate one client some seven
years ago. As he learned the program he realized its
potential in offering similar services to other clients.
He now says that he is able to save carriers some 25-30% on
every file, and even more when public adjusters are involved
in the settlement process. He sited numerous of case
examples where savings were very significant.
He also described how, in his experience, some P.A.'s will
often pad inventory claims about $30,000 over policy limits
- in hopes that carriers will just pay the limits to get rid
of the claim.
"It makes sense for us to partner in settling these claims,"
he explained. The insured is entitled to their value of
contents. His job is to accurately determine what all that
includes.
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  Laura Pulido and Janell Fisher. Nominations and Elections of Officers and Board Members for 2006 Will be held at the November 18th Meeting Please attend! |
Ron Oates, of Heritage Companies
MVCA Past President, Sherry Wenograd, ran the October meeting in Pres. Jim Berwanger's absence.
Congrats to Pot of Gold winners: Melinda Jensen, CSAA; and Gaye Bishop,with Royalty.