Choosing a broker is not just about who can get you the cheapest insurance deal - it's about ensuring that your business benefits from the best overall value proposition. No-one wants a claim to occur, but when it does, it's essential that it is resolved in the best way possible.
The quality of claims service is regularly cited by clients as a key factor in their choice of both insurer and broker. Lockton's claims consultancy (included as standard with our brokerage services) stands peerless amongst our competitors.
We have a strong team of experienced Claims Advocates and Executives who have the expertise, knowledge and diplomacy to work with you to enhance the handling of complex or high value claims - to achieve the best result for you.
Our claims specialists do not simply become involved when a claim arises. They are a key part of insurance programme design to ensure a streamlined claims management process is delivered. They will liaise with insurers to agree and enforce prompt payments, and, alongside our Risk Manager, will assist clients in addressing any claims issues in order to present the best possible risk profile at renewal.
Contact our Solicitors Team for more information
Case study: assisting our client in the conduct of a lender claim
Our client, a top 50 UK law firm, acted for a very well known businessman in the purchase of various commercial properties. The purchase agreements were extremely complex and required various short term loans. Aspects of the loan agreements were backed by solicitor's undertakings. Regrettably, the underlying client failed to put our client in funds in time for it to satisfy the undertakings it had given. The Lenders then pursued a claim against our client.
A claim was presented to our client's PI Insurers, who tried to refuse indemnity by claiming that the undertakings were not given in the course of our client's legal practice. We argued against the Insurers and their lawyers that this was not the case and assisted the client in properly formulating the supporting information and documents to prove that the undertakings were indeed given in the course of the client's legal practice.
The Insurers eventually conceded that two of the three undertakings were in fact given in the course of our client's practice and we ensured that our client was in receipt of the settlement funds within five days. In addition, we negotiated that our client should maintain complete control of the recovery proceedings so that they could maintain the confidentiality of the transactions as well as contain any professional embarrassment that might have ensued. The final part of our negotiations was to ensure that any recovery would be in favour of our client in the first instance.