White Paper

3 Costly Consequences of Late Claims Reporting

When an insured reports a claim late, it might be too late to reverse pending legal action. Timely claims reporting, therefore, is a must.

White Paper Summary

Claims are unpredictable. Even the best insurance carriers and their insureds cannot anticipate the rise of a new claim before it occurs. However, that does not mean the insurer and insured can’t be prepared to handle claims as they arise.

A clear claims handling strategy is a must for every business, and that starts at the onset of the relationship between policyholder and insurer. Open, honest communication is key in order for the policyholder to receive the right coverage from the insurer for its unique set of risks.

Building a strong partnership at the very beginning also benefits all participants in case a claim does arise.

To learn more about Allied World please visit their website.

Allied World is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions.

More from Risk & Insurance

More from Risk & Insurance

Risk Matrix: Presented by Liberty Mutual Insurance

10 Severe Weather Risks Affecting Businesses’ Property and More

Every year, severe weather costs approximately $630 billion for the U.S. But this is not a property issue alone; several lines are feeling the strain.
By: | June 1, 2021




The R&I Editorial Team can be reached at [email protected]