Your Firms Assistance and Cooperation on a Claim

Your firm has submitted a claim and the insurance company is now requesting your assistance. There are provisions in the policy that will lay out what assistance and cooperation your firm is required to adhere to.

Example one:

  1. The Insured will cooperate with the Company and upon the Company’s request, attend hearings, depositions and trials and assist in effecting settlements, securing and giving evidence, obtaining the attendance of witnesses and in the conduct of suits and proceedings in connection with a claim.
  2. The Insured will assist in the enforcement of any right of contribution or indemnity against any person or organization who or which may be liable to any Insured in connection with a claim.
  3. The Insured will not, except at the Insured’s own cost, voluntarily make any payment, assume or admit any liability or incur any expense without the prior written consent of the Company. The Company shall have no obligation to pay or reimburse any person or entity for sums expended to defend any claim otherwise covered under this policy prior to written notice of such claim being received by the Company.
  4. The Insured will first obtain the Company’s written consent prior to exercising any right under a contract to reject or demand arbitration or other alternative dispute resolution process.

 

Example two:

(1) The Insured will cooperate with the Company in the defense, investigation and settlement of any Claim. Upon the Company’s request, the Insured will attend hearings, depositions and trials and assist in effecting settlements, securing and giving evidence, obtaining the attendance of witnesses and in the conduct of suits and proceedings in connection with a Claim.

(2) The Insured will assist in the enforcement of any right of contribution or indemnity against any person or organization who or which may be liable to any Insured in connection with a Claim.

(3) The Insured will not, except at the Insured’s own cost, voluntarily make any payment of Claims Expenses or Damages, assume or admit any liability or incur any Claims Expenses or other expense without the prior written consent of the Company.

 

Read your firms Professional Liability policy so you are aware of what is required of your firm in assistance of a claim. If you have questions with regards to what is required please call or email your Professional Underwriters agent for assistance.claim