So you’ve decided to notify a claim, or a circumstance that could turn into a claim. But what initial information should you supply to your insurer? And once notified, what other information will they request?

We’ve previously covered when to notify Professional Indemnity claims within our Claims Notification Guide, and below, we’ve outlined some key things you should provide to get the ball rolling.

Policy information

To make things simpler, it’s always advisable to give insurers a copy of the policy you intend to claim under. Although they can search for this, it helps to speed things up. Plus, it allows you to point out where you, or your broker, believes the policy should respond.

Overview

Summarise the situation in your own words: who the client was, what was expected to be delivered, what went wrong, and when. The ‘when’ is particularly important, as that ties into any potential late notification issues. That’s why it’s wise to err on the side of caution and notify possible problems early, just in case.

We’d suggest touching on whether you believe you’re at fault, and what the financial ramifications could be. If there are any outstanding fees from your client, point that out too, as a disgruntled client can often become litigious when chasing for final payment.

Contract

Provide copies of all relevant contracts, plus any master agreements, schedules of work, or written variations that would apply to the work. Agreements with relevant suppliers or subcontractors should also be included, along with evidence of their Professional Indemnity insurance where available.

Financials

If the contract values aren’t included within these documents, provide evidence of the agreed fees and invoices where possible. Often, insurers will request a breakdown of these fees, as they can be crucial in deciding whether to defend or settle a claim. But these can be supplied once insurers have been made aware, so don’t let it delay notifying them.

Correspondence

In the instance where a client has expressed their dissatisfaction, provide copies of all correspondence where they’ve complained or questioned the deliverables. Be sure to include any formal legal correspondence too, just in case they’ve already engaged a solicitor.

Contact information

Nominate someone from within the business for your insurer and/or broker to liaise with, should there be any requests for further information. In complicated claims, it makes sense to arrange a phone call or video conference to be certain insurers fully understand the situation. Doing this adds greater certainty and speeds up the process considerably.

Support from RiskBox

Whilst the above should be comprehensive enough to give insurers a head start, they’ll likely require further details depending on the individual circumstances. And remember, much of this information will vary depending on what the claim relates to, and what stage the potential dispute is at.

If you need support or advice from independent experts regarding your Professional Indemnity claim or policy, speak to RiskBox. Our experienced team can guide you through the process and answer any questions you may have. Get in touch with us today on 0161 533 0411 or fill in our online contact form and we’ll get back to you.

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