The true value of a strategic insurance program is most apparent in the unfortunate event of a claim.
Where claims are handled well, you’ll be satisfied that your insurance policy has responded in the manner you expect – with a satisfactory settlement offer finalised in a timely manner.
To achieve this outcome it is important that some simple protocols are in place in readiness of circumstances giving rise to a claim. As we work with you, we will discuss and agree on the appropriate protocols. For example, we have robust reporting protocols for notifying Barrack Broking and other stakeholders on incidents and incident triggers.
For many organisations claims don’t always run smoothly.
This can happen for a number of reasons:
- Delays in initial claims reporting through insufficient loss information being provided.
- Insurance policy conditions or exclusions that remove or limit coverage.
- Disputes between the insured and insurer regarding liability, causation, level of coverage and policy response.
Barrack Broking offers the insurance skill and expertise to assist with claims of a more complex nature to achieve an acceptable outcome, particularly where matters are initially disputed.
We do this by:
- Reviewing all available information pertaining to the claim, from initial incident reports and claim forms, photos, contracts, expert reports and witness statements.
- Analysing the relevant policies including original proposal forms to insurers to identify the intent and extent of coverage.
- Working with relevant experts around determining liability and quantum.
- Determining an acceptable strategy and then negotiating with insurers to achieve a settlement in line with the chosen strategy.
After finalising the claim, we conduct a debrief with you to consider the lessons learned from the experience and the opportunity to mitigate risks to avoid similar future claims.
Our Claims Consulting service is not only available to those organisations for whom we have placed insurance but also those who may be facing a matter that is being disputed or which seems difficult to resolve. In this instance, we conduct a preliminary review of the circumstances, and advise on a proposed approach and advocacy fee.
We can help you with:
