Are you caught up in the Insurance Tornado?
One of our clients recently decided that he had enough of the ongoing battle with his insurers. “They kept paying claims that had no merit and every time they did that, my premiums went up” he indicated. That helped their bottom line but hurt mine. They didn’t do their job and I had to pay extra”. He is now defending claims on his own.
This “battle of the bottom lines” is only a part of the Insurance Tornado.
Some other features:
- Difficulty in obtaining adequate coverage;
- Uncertainty as to what goes on when a claim is made;
- Little or no investigation into incidents giving rise to claims;
- Defence lawyers who roll over and play dead;
- No attention to the effect on your business when bogus claims are paid;
- No attention paid to your risk control practices and procedures;
- No co-ordination between the insurers’ underwriters and claims people.
The effects of The Insurance Tornado are every bit as serious as Mother Nature’s outbursts and you need to storm proof your organization.
At SRC, we are dedicated to helping you avoid The Insurance Tornado by putting systems in place that make it almost impossible for your insurers to pay out claims that should be fought.
By installing The Due Diligence Solution, you will be able to work with your insurers to make them understand that your enhanced Policies, Procedures and Proof are a solid defence to lawsuits. Claims will not be paid out improperly. Lawyers will be reluctant to sue you. Your premiums and coverages will be under control. You will be able to avoid The Insurance Tornado! |
