Industry News




 

07/06/2011

HVAC Insurance Fraud on the Rise

 
HVAC-Fraud

Next time your HVAC unit needs repair be sure to look into what you’re paying for. A recent study revealed that insurance claims submitted for damaged HVAC units were overpaid by 65% in the first half of 2011.

The study was undertaken by HVAC Investigators and went on to show that overpayment was a result of insurance providers who paid to replace the entire HVAC unit when only minor repairs were needed.

"Our research found that the average claim submitted to insurance companies was the result of an (owner) being told by an HVAC company that their unit was in need of a full replacement, when in actuality, a minor repair would bring the system back to pre-loss condition," says Damon Stafford of HVAC Investigators. "It becomes a self-fulfilling prophecy ... (owners) experience an issue, contact a local HVAC contractor, and in turn unknowingly file a fraudulent claim. That's in essence how the game has worked for the past 30 years."

According to the Insurance Information Institute, insurance fraud is the second most costly white-collar crime in the U.S., totaling more than $29 billion each year. Many insurance carriers unwittingly promote fraud by paying suspicious claims rather than fighting them. Often, insurers reason that it would be more cost-effective to pay these claims than to hire an expensive mechanical or electrical engineer to seek the truth.  

This challenge has given rise to niche companies like Stafford's HVAC Investigators, who utilizes local technicians across the country to assist with investigations of heating and air-conditioning claims. The firm's technicians charge hourly fees much lower than those of a typical engineer and provide recommended settlements.  

"We're excited about the positive impact we're having on the insurance industry," says Stafford. "When carriers understand that they can save, on average, somewhere between $3,000 and $4,000 per claim, they begin to grasp that this is something they should be paying attention to.”



Preventive HVAC Maintenance is a Good Investment

 

HVAC: Repair or Replace?

 

Insurance for Green Buildings

 


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

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Tennant Company is a recognized leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. With thousands of satisfied customers already using award winning ec-H2O technology, why not see what you're missing? Test ec-H2O on your soils in your facility. Get a free demo.

 

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Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.

Add highly responsive multi-zone comfort to any building project, in any climate. Our CITY MULTI H2i R2- and Y-Series VRF systems give you flexibility to fit the needs of any building. Enjoy 100% heating capacity at 0°F outdoor ambient, and 85% heating capacity at -13°F outdoor ambient.  For more information, log on to www.mitsubishipro.com


Tennant Company is a recognized leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. With thousands of satisfied customers already using award winning ec-H2O technology, why not see what you're missing? Test ec-H2O on your soils in your facility. Get a free demo.


Tennant Company is a recognized leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. With thousands of satisfied customers already using award winning ec-H2O technology, why not see what you're missing? Test ec-H2O on your soils in your facility. Get a free demo.

 

Replace core drilling with Connectrac In-Carpet and On-Floor Wireways, the proven connectivity solution in open interior spaces of all kinds. These elegant low-profile wireways are great for AV / telecom connectivity wherever it’s needed.

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.


 
09/29/2014

Academic achievement tied to responsible reporting habits

09/26/2014

Survey shows people more careful, less satisfied in public washrooms.

09/25/2014

A new study shows that switching natural gas for coal will not significantly reduce the amount of CO2 emissions being produced. 

09/24/2014

A new study shows the carbon emission reduction policies individual states have adopted are yielding results.

09/23/2014

A recent survey of industry professionals indicates that investment in energy efficiency projects will increase over the next year.

09/22/2014

Fort Carson in Colorado is well on its way to reaching the goal of net-zero energy by 2020. 

09/19/2014

New regulations from the DOE would improve commercial air conditioner efficiency by as much as 30%. 

09/18/2014

A new study suggests that the installed cost of photovoltaic solar power continues to drop in the U.S.

09/17/2014

A new technology developed at Rice University effectively deices glass surfaces while remaining transparent for radio frequency transmission.

09/16/2014

The USGBC and American Chemistry Council have put aside their differences to work together on new improvements to the LEED certification system. 

09/15/2014

Researchers have developed a new process to help cloud computing systems use less energy while continuing to provide high levels of data services.

09/12/2014

Researchers have found the main factors that influence the amount and type of building damage caused by various types of salts. 

09/11/2014

A new study has demonstrated that proactive ergonomic training can decrease worker discomfort and increase productivity. 

09/10/2014

The University of Utah has upgraded its historic Dumke Health Professions Education building to save an impressive 40% on energy costs.

09/09/2014

Hoping to build on LEED's success, PEER evaulates the performance and modernization of electric grids. 

09/08/2014

The USGBC has developed a new tool to help streamline the LEED certification process. 

09/05/2014

Researchers have developed a fluorescent lamp that emits Wi-Fi signals to allow connectivity throughout buildings.

09/04/2014

Tests show effective measures for reducing earthquake damage to computer servers. 

09/03/2014

Health costs drop by half as a result of environmental regulations.

09/02/2014

A new study challenges the idea that sparse workplaces produce happier, more productive employees.

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