GCMC is a complete (or "turn key") claims management solution for small to midsize businesses with self insured retentions from $25,000 to $500,000 per claim. We handle personal injury and general liability claims for small to midsize companies ($20-500 million in sales). We usually handle all claims covered under most "CGL" (Commercial General Liability) policies. We typically exclude workers compensation claims, health insurance claims and other related non third party liability claims. Unlike most TPA's (known as Third Party Administrators) we handle and track claims from their very inception to final resolution either at the claims or litigation level. There is no "handing" off the claim once it goes into suit. We handle the claim for its entire life no matter where the claim is located. That continuity is what sets us apart from all the other TPA's, in addition to our specialization in sports and recreation product liability claims. Our goal is to close cases as quickly as possible, not to "push paper around" like most TPA's. We can do that because we understand your underlying business, we understand these claims and we understand what it takes to resolve claims quickly. We are not insurer focused or created by and for insurers. We are focused on the insured, their business and their specialized claim needs. We want what you want. If you are looking for a comprehensive solution to your claims management problems, give us a call first. Or have your broker contact us directly. You will be glad you did.
What are Third Party Administrators "TPA's"?
This term is now commonly used in "CGL" (commercial general liability) policies or so called "casualty" business. In these instances the liability policies are written with a large (usually in excess of $50,000) "SIR" (self insured retention) that operates somewhat like a deductible, but rather than being paid at the end of a claim (when a loss payment is made to a claimant) the money is paid up front by the insured for costs, expenses, attorney fees etc. as the claim moves forward. If there is a settlement or verdict within the SIR then that is also paid by the insured up to the limit of the SIR, before the insurer steps in and pays its portion. The Third Party Administrator acts like a claims adjuster for the insurance company and sometimes works in conjunction with the inside insurance company claims adjuster or an outside claims investigator as well as the defense counsel. The defense counsel in some situations is selected by the TPA. The point is that the larger the SIR the more responsibility the TPA (third party administrator) has over the control of the way the claim is handled and ultimately resolved. Some self insured retentions are in the millions of dollars and the TPA's are large multinational non-insurance entities that handle all the claims. In some cases the insured sets up an entire department within their company (and staffs it with claim savvy people) to act as the TPA as opposed to hiring a commercial TPA company.
