How much time will be required to provide PCS with the loss information? Will we need a dedicated staff?
The PCS loss information requirements are very basic and should be readily available from the claims manager(s) handling the catastrophe. PCS is asking that experienced claims professionals provide us with their best estimate of the scope of the catastrophe to the insurer organization. PCS does not require nor need complex analysis, statistical database runs, or closed claim reviews. The estimates are likely information that is already being developed for senior management in setting reserve levels determining the need for extra adjusters or repair facilities, and otherwise managing the company’s response to the event.
Related Questions
- Do the required matching funds have to be in cash, or can they be in-kind donations and services, e.g., staff time working on the program?
- How much time will be required to provide PCS with the loss information? Will we need a dedicated staff?
- Do staff have the right to take time off to observe their religious holidays and festivals?
