Handling a Claim, Between Insurers and Clients

Handling a Claim can be overwhelming. Here is some expert advice from World Insurance Services Claims Manager, Richard Kamppari Baker.

It is often said that you will never know how good your insurance policy is until you have to submit a claim. In some cases, the quality of the claims services is not only governed by the policy conditions and claims handlers but also by the actions of the assured. Unfortunately, no matter how good your policy or insurers are, if the assured fails to properly handle claims, all else may seem redundant.

It doesn’t take an insurance expert to understand that, when claims occur, tensions build. There is no doubt that the claimant will be upset and may vent his/her anger. Below are some tips to ensure smooth running of the claim and management of expectations.

Notify the insurer and client immediately even if its precautionary.
Prompt notification to insurers and clients will not only protect the claim but help in the smooth running of claim submission. With professional handling from the start, what might seem a horrendous mess can quickly be resolved.

Immediately hold the carrier and/or third parties responsible.
Even if you do not know the cause it’s imperative to immediately hold parties responsible to ensure they have the opportunity to investigate. Even letting as little time as three days’ pass could jeopardize your claim. Never be scared to send these even without knowing the cause.

Follow insurers instructions and ensure a close working relationship with the surveyor.
Whether these are instructions to your client or to yourself, make sure to follow instructions. If there is reason to disagree with certain actions, insurers will welcome advice but refusing to cooperate will prejudice the claim. Failure to disclose information or answer questions could mean not getting your claim paid.

Do not expect insurers to commit to a claim until investigations are complete.
It’s a common problem where claimants refuse to co-operate on a claim until they receive confirmation that the insurer will settle. Remember, as with all insurance policies, they are on an indemnity basis so demands will just delay or prejudice a claim.

Utilize the service of your brokers.
Your brokers are there to assist you beyond getting your claim paid. Whether there is a complex coverage issue, a confusing request from the insurers, or delays from surveyors, never be afraid to ask your broker for help.

At World Insurance Agency, we don’t rely on standard document templates when submitting a claim because we understand that each claim is unique. Often, documents may not be required or additional information may be needed. Below are some essential documents insurers require:

Essential documents need by insurers:

Cargo insurance
Transit document
Estimate of loss
Commercial invoice
Letter holding 3rd parties responsible
Packing list
Evidence of loss/pictures
Location/contact details for survey

Freight Service Liability
Transit document
Estimate of loss
Description of what happened
Correspondence with claimants/carriers
Evidence of loss/photos

– Richard Kamppari Baker, Claims Manager, World Insurance Services