5 steps to get your claims paid

By 9th January 2023 January 10th, 2023 Claims, Insights
claims paid

Businesses are now 3 times more likely to sue their insurer to get their claim paid than was the case as recently as 2018, and the forecast trend in 2023 is for this scenario to get even worse.

We know how hard it is to get complex insurance claims paid quickly and fairly. To help you ensure you get the process right, we’ve put together 5 easy steps to ensure you are covered.

Plan in advance
Implement a ‘pre-loss protocol’, which establishes the ground rules for your business and takes into account the critical terms and conditions on all relevant insurance policies.

Manage communications from day one
Establish a single channel of communication and don’t allow staff or advisers to speculate on causation, coverage or anything else that might prejudice a claim.

Bring in the experts
Don’t delay when it comes to hiring technical advisers or specialists. Getting the right advice from the outset can help reduce costs in the long run and sidestep many claims delays and objections.

Get to grips with the policy wording
Review all relevant policy documents and obligations at an early stage. Many claims go wrong where terms and conditions are breached after the loss, not before.

Think carefully about how the claim is presented at the point of submission
Aim for clear, evidenced presentation of each loss component, mapping how the policy applies to the claim. This reduces the chance of the claim being disputed or rejected.

Managing complex claims is what we do. If you’re struggling to get your claims paid, get in touch with our experts.

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