VML Insurance Programs operations are audited by a variety of external organizations.  Some audits, such as those conducted by the Bureau of Insurance and independent financial auditors are required by regulation on a periodic basis.  Others, such as independent claims management audits are voluntary.  Voluntary external reviews provide the Members’ Supervisory Boards, members, regulators reinsurers and management with important independent assessments of how our operation is being managed.  We are very pleased to report that in each instance, we were found to be extremely well managed and in compliance with all major standards. 

Both the property & liability and workers compensation claims departments were audited by Independent Consulting and Risk Management Services, LLC.  They specifically looked at the following areas in evaluating the department: coverage analysis, investigation, damages evaluation, case disposition, reserving practices and cost containment. Both the property & liability and workers’ compensation claims departments were scored at 95% or higher.

The auditor found the “property & liability claims staff and claims handling processes and procedures [to be] very effective.”   Further, ICRMS ranked “the property & liability claims handling practices in the top five pools audited by ICRMS in the past 24 months.”   Additionally, ICRMS concludes its executive summary by complimenting Chuck Finley, Director of Property & Liability Claims, and his staff for having “a very sound and strong claims handling operation.”

The workers compensation claims department was found to be equally as effective, and in his executive summary, ICRMS president Mark Nestor reported that “Robin Duvall, Director of Workers’ Compensation Claims, and her staff … have a very sound and strong claims handling operation … [and that her department is] “in the top three pools audited by ICRMS in the past 24 months.”
   
We applaud both the property and liability and workers compensation claims departments for the fine work they are doing and for the results of these audits. The Members’ Supervisory Boards and the VML Insurance Programs management team are proud to have such a highly professional claims staff to provide you the service you deserve and that we are known for providing.