The daily life of a subrogation professional is often analogized to digging through stones in search of diamonds. The dig can be frustrating, exhausting, and even discouraging at times. Each investigation begins with optimism and enthusiasm, but many times the end result is that the diamond we thought we were holding, is just another stone.
Similar to mining for diamonds, where miners need to differentiate between everyday rocks and diamonds quickly and accurately, subrogation professionals need to be able to differentiate between claims with potential and those without in the same manner. Deciding whether to pursue or close a subrogation claim often hinges upon the investigation and the team making those decisions.
Having the right experts and subrogation counsel early in the life of a claim can assist in optimizing recovery results, as well as help with the timely identification and delineation of roadblocks. Being made promptly aware of a claim’s lack of recovery potential will allow the subrogation professional to minimize unnecessary costs, close unrecoverable claims quickly, and save valuable time. As important as it is to recognize and pursue claims with recovery potential, it is equally important to recognize when there is a lack of potential and move on.
While we all wish for bright, rich diamonds, the reality is that there are significantly more stones than diamonds to be processed. Sifting the stones efficiently, with a keen eye on the investigation and legal issues, is crucial to the search. Recognizing and discarding the stones can be just as important in the long term as exposing and polishing the diamonds.