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Recovery
Monitoring and pursuing recoverables becomes a routine process rather than a neglected duty. Each claimant can record up to three types of recoveries, subrogation, salvage or other and Claimen will allow multiples of each per claimant. The claim master records the number of claimants in recovery and the total anticipated and recovered amount to date.
Salvagees, Subrogees and collection agents are recorded for each recovery by entering an ID value or by selecting from a pop-up list. Codes for the description of the subrogation/salvage are available for description consistency, or you may add your own description if desired.
Payments are received per recovery record, and a history of payments and voids is provided. Balances included the amount due, payments to date, over/under amounts, balance due, last payment and the next payment number. When a payment is received, the claimant record is updated with the amount which will result in a net loss paid when recorded. These dollars to date are available for viewing for each claimant record with appropriate history for each recovery received.
Screenshots
[To request access to screenshots, please email orcasw@orcasoftware.net]