A recent rash of court rulings highlight the need to give all of your insurance carriers timely, complete, accurate and documented notice of a lawsuit, claim or potential claim in order to ensure you are entitled to the carrier’s defense and coverage that you paid for. As soon as you learn that someone is making, preparing to make or made a claim against you, your business or its employees or agents, you should send notice by certified mail, return receipt requested, to each and every insurance company that could possibly cover the claim, not merely your agent or broker. Strict compliance with each policy’s claim notice provision is required. Also, do not accept a carrier’s claim that its policy does not apply as the final word, as some carriers purportedly reject all claims as their first response.
Quick and proper action can mean the difference between having the security of the insurance you paid for or facing a substantial financial liability alone. Should you have any questions or issues, please call us.
