Filing an insurance claim is not only a critical step but also a requirement of your insurance policies. You are required by your insurance policy to notify the respective insurance companies not only if you have a claim against you but if you have knowledge of an incident likely to lead to a claim. Your notice must be filed promptly as outlined in the Terms and Conditions of your coverage. Many policies require that claims be reported within a specific time frame—often as short as 15 days from when you are noticed of a claim or become aware of an event likely to lead to a claim. Failing to meet the claim reporting requirements of your insurance policy can result in the insurer denying your claim, potentially leaving you without coverage for both defense and indemnity. 
1. Review Your Policy Coverage
Before filing a claim, it’s important to review your insurance policy to understand what is covered. You should check all of your various policies as many times you will need to put more than one Insurance company on notice. Familiarizing yourself with the specific limits and exclusions can help you determine if your claim is potentially covered BUT you should still notify Carriers of the claim or an incident likely to lead to a claim. In today’s complex business environment, you want your insurance company to tell you in writing weather the claim or incident is accepted or rejected.
2. Document Everything
Extensive documentation is critical when filing a claim. This includes photos, videos, and written reports of the incident, damage, injury, equipment damage, customer complaints, statements from witnesses, employees, and the like.
3. File the Claim
Once all relevant information is gathered, submit your claim through your insurer’s preferred method. This might be online, over the phone, or via email. Be sure to include all supporting documentation and follow any instructions your insurance provider gives you to avoid delays in processing.
4. Cooperate with the Adjuster
After filing your claim, an insurance adjuster will be assigned to investigate. Any and all requests made by the adjuster must be immediately complied with unless otherwise advised by your legal counsel. This might involve providing access to security footage or personnel records. Some companies may need to provide evidence of previous service contracts and maintenance records.
5. Non-Admission of Liability
It is crucial that neither you nor any of your officers, directors, or employees admit liability regarding the incident or claim to anyone. If a statement is necessary, the only appropriate response should be that you have reported the matter to your insurance carrier for their commentary and instructions. Admitting liability can compromise your defense and potentially affect the outcome of your claim.
6. Follow Up and Stay Informed
Don’t assume that filing the claim is the final step. Stay in regular contact with your insurer to ensure the claim is progressing. Ask for updates, and if there are any issues, address them promptly. Keeping your own records of communication with your insurer can help in case there are discrepancies or delays.
By following the above steps, you can streamline the claim process, for a quick decision. Filing a claim doesn’t have to be stressful if you stay organized, communicate with your insurer, and take proactive steps to safeguard your business.
If you are a current client at Bone, Robertson, & McBride Inc. and you have a claim to tender please email claims@brmins.com