What Insurance Companies Expect From Preferred Vendors

6/13/2022 (Permalink)

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What Insurance Companies Expect From Preferred Vendors

If you are an insurance agent, you may already be familiar with the concept of preferred vendors. Representatives should be aware of the requirements that restoration companies have for franchises that take jobs associated with insurance claims. Voluntary programs such as the SERVPRO National Account Participation Agreement set higher standards for franchise locations than most independent restoration companies operating in La Salle, CO. 

Regular Employee Background Checks
Franchise owners who want to work on insurance company claims must voluntarily agree to a total of 21 requirements under the National Account Participation Agreement. One of these requirements is to run regular staff background checks, which is mandated for several reasons:

• Companies that prioritize regulatory compliance run less risk
  
• Law-abiding employees are less likely to engage in criminal activity
  
• Insurers are more likely to cover preferred vendor claims
  
  

Additional skill-based requirements relevant to the Institute of Inspection Cleaning and Restoration Certification can also apply. Employees are trained and can pursue further professional opportunities through a program recognized throughout the restoration industry.

IICRC Validated Restoration Methods
The IICRC offers certifications in several areas ranging from specialization in restoring particular types of building materials or contents to more general damage restoration. An insurance agent may also want to seek out a franchise location that has a particular type of specialist.

Professional Vendor Program Projects 
Vendors who participate in programs must guarantee that insurance companies and property owners get good results. Restoration jobs processed through the program tend to be in the process of insurance claim settlement or settled claims. 
An insurance agent should know what preferred vendors are and be familiar with restoration industry certifications. Insurers should look out for qualifications in line with the National Account Participation Agreement. Agents can locate franchise locations of the largest nationwide restoration company to better serve La Salle, CO.