SecondLook® Mitigation Review

2ndTIER_TAB_SERVICESWATER

Unique in the Industry: SecondLook Mitigation or Emergency Services Review

  • Started in October of 2013, Wardlaw is The Program Pioneer!
    Don’t settle for an inexperienced substitute or copy cat program: we started it AND vetted it over the last year.
  • Perfected program and launched with carrier clients
  • In the first year, Wardlaw has saved carriers almost $2,000,000!
  • Experienced, dedicated and detail oriented

One of the greatest costs facing property insurance companies in today’s market is Mitigation Losses.

  • The restoration and water extraction industry has grown to such a size that even within a single vendor consistency in billing and verification of SLAs has become burdensome.
  • Our audits of restoration service invoices has found IICRC standards being bypassed, or SLA standards not being met on 83% of all losses.
  • Wardlaw also has the ability to negotiate final water mitigation costs with contractors based on the IICRC S500 standards for water mitigation.

How The Program Works

  • Analytics audits the various estimates/records provided by the restoration vendor.
  • This process has identified over billing – average cost savings of almost $600 per invoice.
  • We have worked with companies that compensate their review vendors with a percentage of savings making the smaller, recoveries less appealing and worthy of their time and effort.
  • We prefer to work on a per file charge for a nominal fee, which means our reviewers will spend the same amount of effort to recover $100 as they would to recover $1,000.
  • Under this program we also review: Fire Cleaning. Pack Outs, Mold, Asbestos, and Trauma.

How The Program Started

Back in January of 2013, our VP of Operations had a brainstorm after reading that in Texas, water damage losses as a percentage of total homeowners losses in the state shot up between 2000 and 2002. TDI figures show water damage losses per policy increased by 320 percent from 2000 through 2002. In addition, in California, there has been a surge in water damage claims, both in terms of frequency and costs. Homeowners filed more than 114,000 such claims in 2002, representing one-third of all homeowners claims and payouts. According to the Insurance Information Network of California, water losses paid have been on a steady upward trend since 1997, rising 151 percent to $562.4 million in 2002 from $224.1 million in 1997. The cost of the average water loss in California has surged by 33 percent since 2001 and is up 156 percent since 1998. The numbers are also growing rapidly in Arizona, Florida, Illinois, Pennsylvania and Nevada.*

The Water Mitigation portions of some claims seemed out of whack. Our VP wondered what we’d find if we audited a few of our client claims. He hired Michael Puls: before working for Wardlaw, Michael was the General Manager and R.M.E Licensed General Contractor for one of the Nations largest restoration companies in California. He has an extensive background in restoration, construction and mitigation since 1990 where he has obtained certifications in water damage, mold remediation, fire restoration, trauma service manager and his California General Contractors License.

And Michael went right to work. His team has saved our carrier clients nearly $2M in less than a year!

For more information about the program and how it can save you money, contact Jeff Keahey
at Jeff@wardlawclaims.com.

 *Insurance Information Institute