Know Why You MUST Retain Settlement Authority and How Much You Need
01/29/21 Rebecca Shafer The term “settlement authority” is often heard in discussions about the resolution of workers' compensation claims. Settlement authority is often thought of in dollar amounts as in “the adjuster has a $10,000 settlement authority.” I learned the term after the insurance company settled a claim out from under me! I learned the hard way -- after it was too late (on that claim.) Settlement Authority is the Control of Financial Decisions In reality, settlement authority is the control of financial decision-making allowed to a lower level in the claims management hi...
Source: workerscompensation.com