Southwest Recovery Services has launched a specialized debt collection service in Florida for insurance companies. The service focuses on recovering funds from subrogation and third-party debt claims, addressing the state's unique financial recovery challenges for insurers.
-- Southwest Recovery Services, a firm with a national presence including offices in Florida, has announced a specialized debt collection service for the state's insurance companies. The new offering focuses on recovering funds from subrogation and third-party debt claims, addressing the specific financial recovery challenges within the Florida market.
More information is available at https://www.swrecovery.com/industries/insurance-and-subrogation-collections/.
The launch of this service comes as Florida insurers face a complex recovery environment. Companies often encounter significant hurdles, including liability disputes and difficulties with uninsured or underinsured parties. Additionally, the state's 'made whole doctrine' can impede recovery until the insured party is fully compensated, adding another layer of difficulty.
These claims are governed by a combination of statutory law under Chapter 627 of the Florida Statutes and established common law principles. Operating within this framework requires specialized expertise to avoid potential legal pitfalls. For instance, Florida Statute ยง 768.76 outlines requirements for collateral sources, establishing that failure to respond to a notification in 30 days can waive subrogation rights - a negative outcome for insurers which can be avoided with qualified assistance.
Southwest Recovery Services is equipped to manage various account types for its clients thanks to their experienced team. The agency handles subrogation files, earned and audit premiums, adjustments, unpaid deductibles, and bonds, providing a full suite of services for revenue recovery.
The company offers flexible models to meet diverse client needs, managing both first- and third-party debt. This dual capability allows Southwest Recovery Services to partner with insurers at various stages of the recovery cycle, from the initial claim phase through the process of collecting on delinquent accounts from another party.
Adherence to legal standards is central to the company's operations: the firm complies with all relevant state and federal regulations, including the Fair Debt Collection Practices Act (FDCPA) and Florida's Consumer Collection Practices Act (CCPA), ensuring all recovery activities are conducted ethically.
As the company explains in the announcement of these services, a professional approach can yield significant financial benefits for insurers. SWRS reports a case where prompt and focused action on a claim resulted in an 85% recovery of a $250,000 loss within only six months, clearly demonstrating the value of partnering with a specialized agency for complex claims.
Southwest Recovery Services was established in 2004, and now maintains a presence across the United States. The company provides accounts receivable management solutions for businesses of all sizes on a contingency-based model, aligning its success with client recovery outcomes.
To learn more about the company, please visit https://www.swrecovery.com/.
Contact Info:
Name: Steven Dietz
Email: Send Email
Organization: Southwest Recovery Services
Address: 16200 Addison Road Suite 260 , Addison, Texas 75001, United States
Website: https://www.swrecovery.com/
Source: PressCable
Release ID: 89172829
In case of encountering any inaccuracies, problems, or queries arising from the content shared in this press release that necessitate action, or if you require assistance with a press release takedown, we urge you to notify us at error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team will be readily available to promptly address your concerns within 8 hours, resolving any identified issues diligently or guiding you through the necessary steps for removal. The provision of accurate and dependable information is our primary focus.
