WEST PALM BEACH, FLORIDA, UNITED STATES, March 4, 2022 /EINPresswire.com/ -- Reinsurance allows multiple insurance companies to share risk by purchasing insurance policies from other insurers to limit their own total loss and protect their surplus.

Described as "insurance of insurance companies,” reinsurance makes sure no insurance company has too much exposure to a particularly large event or disaster.

Dorothy Muir is an accomplished insurance and reinsurance executive with over 30 years of experience handling claims.

“Some of our clients pay us a hundred million for coverage, hoping if they need it, that we are there to assist them in good faith,” says Dorothy. “The biggest part of my job was to make sure that when we dealt with our clients, we dealt with them fairly. If you’re not handling claims properly, that's when you get suits, and it affects everyone's bottom line.”

These companies, says Dorothy, may write $500 million or even a $1 billion in in treaty loss reserves. They reinsure a piece of their coverage by giving us a $100 million, which would mitigate 20 percent of their losses.

“These numbers are absolutely huge, so we have to make sure that we didn’t overextend ourselves,” says Dorothy. “When the claims come in, we have to pay them right away.”

When insurers do not want to cover claims, even though they should, policyholders will litigate. When they litigate, they need experts to testify as to why a claim should be covered or why not.

Today, Dorothy provides expert witness opinions on insurance, reinsurance and insurance claims handling matters.

“If the claims handlers are not working in good faith and they deny claims that shouldn't be denied, this is where bad faith claims handling comes in and where expert witnesses are needed,” says Dorothy. “As an expert witness, I have to read everything. I have to go back to the insurance contract and the claim file to decide if it should have been covered or not. I submit my opinion to the attorneys who hired me. They may settle. They might decide to go to court. In which case I have to be deposed and testify at trial. So it's an interesting field.”

At the end of the day, says Dorothy, the facts are the facts.

“Sometimes it's just a legitimate mistake or a difference of opinion,” says Dorothy. “You have to be fair in your assessment.”

Close Up Radio will feature Dorothy Muir in an interview with Doug Llewelyn on March 8th at 11am EST

Listen to the show on BlogTalkRadio

If you have any questions for our guest, please call (347) 996-3389

For more information, visit Dorothy’s profile on SEAK Experts

Lou Ceparano
Close Up Television & Radio
+ +1 (631) 850-3314
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