Risk Mgrs Say Claim Service Is Vital

An overwhelming majority of risk managers say claim service plays a significant role in their decisions to buy property/casualty insurance, according to a survey by the Chubb Group of Insurance Cos. The study, released April 15 at the Risk and Insurance Management Society 40th annual conference and exhibition, also found that in the aftermath of Sept. 11, many companies are concerned with the financial strength and long-term viability of their carriers. Nevertheless, Chubb has determined that an insurer‘s financial stability does not guarantee a high level of quality claim services. The survey results demonstrate that price is not the driving factor in selecting an insurance carrier, said Mark Korsgaard, senior vice president and worldwide casualty claim manager for the Warren, N.J.-based insurer.