When working in the realm of marine insurance, prompt claims handling is a must. You want to ensure your clients feel supported when they need you most. In other words, when an event disrupts the flow of their business. In such circumstances, your customer satisfaction hangs by a thread. It’s all down to how swiftly
Insurance disputes are bound to happen when you are in shipping and trading. Find out which dispute resolution strategies help you solve them amicably.
Understanding the doctrine of subrogation is key to pursuing successful recovery actions. Especially when there are plenty of aspects you, as an insurer, must take into account: The basis of subrogation in different jurisdictions. The steps to take over the rights and remedies of the assured. The distribution of recovery in case of partial indemnity.
A professional marine insurance surveyor can be a real lifesaver for insurance carriers. Without their competence and skill, you may find yourself stuck with claims pending validation. Or providing coverage for a boat without having the certainty that it’s seaworthy. So, you’ll have plenty to ponder if you want to ensure you’re hiring the right
Processing marine claims can turn out to be problematic. No matter how hard you try to stay on top of things: making sure you file your client’s claim timely to prevent it from being time-barred, providing sufficient evidence while helping them mitigate damages… A never-ending process that can cause you many a headache. But here’s
Marine insurance gives you peace of mind. It means being covered against costly risks, such as loss of life, damage to cargo, oil spills, and the like. Now, which insurance policy should you take out? 🤔 Here are 𝟵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗽𝗼𝗹𝗶𝗰𝗶𝗲𝘀 you may come across when you’re in the process of getting your ship and
Insurance fraud remains a key issue for the marine industry, leading to costs being passed on to customers through higher premiums. Which actions can you take to deter and uncover fraudulent claims? There’s no easy answer, as insurance fraud comes in all shapes and sizes, such as scuttling, barratry or arson. You may recall the
Looking for a partner who can handle your #marineclaims from the ground up? That’s a Third Party Administrator (TPA) for you! 👉 𝗪𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁’𝘀 𝗮 𝗧𝗣𝗔? A TPA is an 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗼𝗿𝗴𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 that helps insurers, brokers or companies to process claims under a marine insurance policy. In other words, if you wish to outsource some