As the regulatory environment continues to evolve in Asia and as society becomes progressively more litigious, achieving positive claims outcomes becomes increasingly important.
Claims can be complex and the investigation process can be lengthy. When dealing with certain financial lines claims like Professional Indemnity or Directors and Officers insurance, organisations may be investigated by an authority scrutinising possible criminal, administrative, or regulatory misdemeanours.
How policies respond in the event of a claim is the true test of insurers and insurance brokers. The final outcome of whether a claim is paid in full, partially paid, or declined is affected by a number of factors.
There is no international standard for claims handling, as each client’s needs vary considerably, along with the nature, severity, and frequency of losses they will experience.
In order to have peace of mind, you must have confidence in the quality of the insurance programme your broker has placed for you, your broker’s technical knowledge and claims handling ability, and the quality and professionalism of the insurers underwriting your risk.
Our new eBook talks about how brokers should advocate their clients’ interests at each step of the claims process.
Please click the download button to access the eBook.
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