NEW YORK CITY—Guiding you through risks and potential underwriting perils, Lance J. Ewing of AIG provides his market-spanning insights. A recipient of the Risk Manager of the Year for Business Insurance and Risk Innovator of the Year awards, Ewing is an internationally recognized authority on insurance, risk management, crisis management and risk financing, among many other insurance and risk-related subjects. At AIG, he serves as the leader for Hospitality and Leisure, as well as the Real Estate Industry Practice Groups.
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Claims are a part of any commercial real estate business. Whether property, workers compensation, liability, discrimination or any variety of claims that occur it is necessary to always follow three risk management steps: Investigate, Evaluate and Resolve.
Following a claim of any kind it is best to start an investigation immediately. The sooner you begin gathering the facts and evidence of what happened, the sooner the claim can be evaluated. The investigation can be completed by internal and/or external personnel. Getting the who, what, where, when and how are key criteria for claims investigations. Documentation of the claim investigation is an important step. The use of internal or outside counsel is part of the investigation process.
Once the investigation is complete, the evaluation part begins. Questions such as is there insurance coverage? Is there a way to transfer this claim? Is there a contractual obligation to pay the claim? What is the causation? What is the actual damage or loss? How much should be reserved for the claim? The evaluation process needs these and other questions answered to move to the resolution step.
Claim resolution normally falls into one of five areas:
- Payment in full;
- a negotiated settlement;
- denial;
- litigation/an alternative dispute resolution;
- subrogation or recovery for payments made.
The claims process for real estate owners and mangers rarely goes perfectly. But have a plan in place will smooth the edges.
For further information always consult with your insurance broker or agent or your insurance carrier.
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Lance Ewing
Lance J. Ewing has extensive executive experience in the field of risk management and insurance including his current role as Vice President for AIG Property/Casualty. Lance leads the Hospitality & Leisure, as well as the Real Estate Industry Practice Groups for AIG. Prior to this position he served in senior risk management capacities for Caesars Entertainment Inc. (fka Harrah’s), GES Exposition Services and for the City of Philadelphia School District. Mr. Ewing additionally worked for various insurance companies including Lumbermen's Underwriting Alliance, Pennsylvania Hospital Insurance Company (PHICO) and New York Lumberman's Insurance Trust in risk management and loss control capacities. Mr. Ewing received his Master's degree in Law & Justice from the University of Pittsburgh and completed his second Master's degree in Occupational Safety Engineering. In addition to his Associate in Risk Management (ARM) designation and his International Certified Risk Manager (CRM) designation, he is a matriculated Chartered Property Casualty Underwriter (CPCU) candidate and has completed his Enterprise Risk Management Professional designation (ERMP). Lance was National President 2003-2004 for the Risk & Insurance Management Society (RIMS) and was also the Chief Risk Officer (CRO). He teaches risk management as a faculty member for the National Alliance for Insurance Education & Research. He also served as a Board member for the Certified Insurance Counselor (CIC) Board. Mr. Ewing was a member of the Willis Client Advisory Board, the Zurich Client Board and the AIG Advisory Board. Other board positions previously held include the Spencer Educational Foundation, the National Fire Protection Association (NFPA) Safety to Life Committee, the Environmental Risk Management Committee of the ASTM and the Public Risk Insurance Management Association. He has a scholarship in his name (Lance J. Ewing Educational Scholarship) for the Certified Risk Management International designation. Mr. Ewing was honored as the 2008 Risk Innovator of the Year and was the 2007 Risk Manger of the Year (Business Insurance). He has authored several articles on insurance, risk management, crisis management and workers' compensation. He is a frequent speaker on enterprise risk management, claims, disaster recovery and risk financing. In addition, he has testified in both Federal and State hearings on risk management legislation. He has spoken internationally to promote insurance and risk management in Croatia, Romania, Kosovo, Turkey, Spain, Italy, Switzerland, United Kingdom, Canada, Mexico, Bermuda, Australia, India, China and Japan. Mr. Ewing continues to be a strong and outspoken supporter of the insurance and risk management industry.
