Professional Liability Insurance Claim Process

Mark StraussBusiness | Commercial Insurance, Professional Liability | Error's & Omissions

When it comes to professional liability insurance, the claim process can sometimes be frustrating. For this reason, it’s important that you be prepared. One of the best ways to do this is to make sure all the information the insurance company would need is available. Here are some helpful tips about the professional liability insurance claim process:

  1. Call Your Agent. All agents have a different take on how they handle claims. I prefer to be engaged at the beginning with my clients to make certain all your questions are answered and you feel comfortable with the process.
  2. Understand the Policy.  It’s important for you to know what your professional liability insurance policy says. Knowing what is covered and what is not covered makes it easier to know what to expect. Waiting until a loss happens to read the policy will only result in frustration if there is something you missed.
  3. Provide Accurate Information Regarding the Loss. Using incorrect or incomplete information will result in delays. Check all of the information for accuracy before submitting it, and make sure everything that is required has been provided.
  4. Keep Records of All Correspondence. When making calls, sending emails or receiving letters, make sure each one is recorded. Write down the date, form of correspondence, name of the contact person and the subject of the correspondence. If there are any important details, include these in your notes.

The professional liability insurance claim process can be stressful. With proper preparation, this stress can be reduced. The most important thing to remember is that your insurance agent should always be available to help guide you through any part of the process.

This article is intended for informational purposes only and is not insurance advice or a substitute for consultation with a licensed insurance broker to address your particular risk or circumstance.