Loss Proceed Pitfalls: How a Name Can Wreck a Claim

Overview

What happens when you add a Mortgage Lender or a Lienholder to a claim check?

Though it may seem like a small deal, adding a Lender to a claim payment can reap significant consequences on Insurance Carriers and their Policyholders.

This real-life case study tells the story of a house fire insurance claim turned nonsensical wild-goose-chase. These Policyholders spent four months living in a hotel, waiting for the check that was supposed to restore property and their lives. What happened instead?

• • A “wrong” Policyholder name that obstructed flow of funds
  • A missing check that prompted FBI involvement
  • Delays that led to tens of thousands of additional living expenses (ALE) for the Insurance Carrier

Why settle for an outdated claims process that only leads to bad outcomes?

Read this case study to discover how sureti is removing the Mortgage Lender from the claim proceeds equation.