Legal News / The Law Offices of Darwin F. Johnson

The Law Offices of Darwin F. Johnson Explains Claim Leakage

Via: ReleaseWire

Updated 8:00 AM CDT, Thu, May 09,2019

Atlanta, GA -- (SBWIRE) -- 05/09/2019 -- As a leading workers' comp attorney serving Atlanta and surrounding areas, The Law Offices of Darwin F. Johnson works tirelessly to avoid claim leakage or keep the numbers to a minimum. Now, their team of financial law professionals is proud to explain the concept of claim leakage for their clients.

Claims leakage is defined as the gap between the optimal and actual settlement of a claim. This is calculated from the payment of the claim according to the policy, correctly offsetting the loss. Claim leakage is an essential concept for insurers because their industry is based around costs and assets balanced with liabilities.

A significant source of claim leakage is process inefficiency. When an organization takes its time to settle a claim, or when multiple parties are involved, the carrier ends up paying for their lack of performance. This payment is leakage, and it's frustrating and damaging for carriers and legal offices alike. In fact, claim leakage is monitored and minimized by specialized software that streamlines processes in accordance with the policy conditions and business rules.

In many cases, claims leakage can be avoided with the use of sound logic, complete records, and reliable data. However, there are practical limitations to this, such as the cost of determining an accurate claim balancing with the cost of the claim. The experts at Darwin F. Johnson are the best work injury lawyers in Atlanta. They work hard to avoid any claims leakage so that their clients get the best possible outcomes to their legal finance problems.

For more information on claims leakage, call 404-692-6482 or visit today.

About The Law Offices of Darwin F. Johnson
The Law Offices of Darwin F. Johnson provide legal defense for individuals all throughout the greater Atlanta, Georgia area. He provides effective legal defense for individuals unjustly injured while at the workplace and gets them the compensation they need. Clients of Darwin F. Johnson don't pay unless he delivers compensation.

Reach the Law Offices of Darwin F. Johnson today by phone at 404-692-6482.

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Christopher Shirlow
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