A guide to making a claim

Almost everyone hopes that they will never need to use their insurance but if it becomes necessary, understanding how to navigate a path through the claims process is crucial.

The payment of a claim is, at the end of the day, fundamentally what you are buying when your procure insurance. Take a good long look at your policies because it is often surprising to find that management is shocked by what the policy does, or doesn’t cover.

Before you sign on the dotted line make sure that you have interrogated your policy and your insurers. Policyholders need to ask questions before they make a claim because by the time they come to making a claim it is already far too late.

At the heart of any claims process is the relationship between the insurer, broker and claimant. It is important insurers and their policyholders work together if the claims process is to be tackled speedily and comprehensively.

Properly explain to your broker and insurer the situation immediately a loss or damage occurs. Well prepared data is essential for successful co-operation. Choose a leader to be the focal point of contact with your insurer and hold regular meetings to explain how the situation has developed since the loss occurred.

Everyone should know, all the time, where you are in the process, which milestone comes next and what to do in the interests of the company.

Finally, be prepared for disaster before the worst happens because for smaller and medium sized companies their survival may be a stake. A tested business continuity plan should be undertaken by companies of any size.