RISCO has the answers
RISCO has the answers
Frequently Asked Questions
You don’t know what you don’t know
And when dealing with insurance companies, having a well-rounded understanding of how they deal with claims and internal “best practices” is imperative to seeing the results you want. Let us shed some light on the things you may not know to ask and on what you can expect from our public adjusting services.
We charge a small percentage of your settlement depending on when we begin working together. If we get involved at the onset of your claim, we typically charge 10% of the settlement. If we get involved after you have received a payment or settlement, we typically charge 25% of new money but we cap our fee at 10% of the total of payments. (Ex. if a claim is settled for $100,000. RISCO gets involved and secures an additional $100,000 payment. We would bill you 25% of the $100,000 we negotiated = $25,000 but we would have a fee cap of 10% of the total of claim payments so the fee would be $20,000.)
Simply put, we will likely achieve a better settlement for you than you would achieve on your own. You will surely leave money on the table so what we secure through negotiations helps overcome the expense of hiring us. We can provide some references you can speak with should you wish to verify how public adjusting services improved the situation of our clients.
We have working relationships with law firms around the U.S. and will work closely with counsel. We stay involved when claims are litigated.
Many times, the issues are with adjusters not developing the proper damage scope. (Ex. determining whether a roof be repaired or replaced or determining if drywall should be replaced and painted or repaired and painted) In addition, the insurers often use estimating software like Xactimate that can produce inadequate pricing.
We resolve claims through our vast professional experience and our knowledge of both sides of the industry. Richard Michelson is a Licensed General Lines Consultant, A Certified Insurance Counselor ,and a Certified Risk Manager with over 30 years in the insurance industry. RISCO, Inc. has been highly successful in the negotiating process and understands the intricacies of the policies and the mechanics of the claims process. Our experience and industry knowledge prove very useful throughout the claims negotiations process.