Your broker's business relationship with the insurer they place your policy with can be just as important as the premium paid. These two cases show that the relationship between a broker and the insurer providing the cover goes well beyond simply securing a competitive premium, when tested in an actual claim situation.

Claim 1: workshop damage to client's vehicle settled fast

For businesses that supply a service to third parties it's essential that any damage claim is settled quickly to avoid inconvenience and disruption to the relationship. In this case of a mishap in a vehicle workshop we were able to expedite settlement within 10 days.

Background

An auto service workshop had to make a third party property damage claim after a fuel hose was connected to the plate incorrectly, causing damage to the vehicle to the value of $27,000. Anxious not to further strain the business relationship with the workshop's client, the owner asked Gallagher if we could fast track settlement.

Resolution

The broker responded by marshalling the progress of the claim at critical points via communications with the right person at the right time and payment was made within a few days.

Claim 2: loss of tools cost salvaged from tradie's truck write off

Sometimes the relationship between a broker and the insurer's underwriters can contribute to a liberal interpretation of the insurance cover provided, as this tradie's truck write-off illustrates. The tools damaged in the accident were treated as part of his loss when strict interpretation of the terms could have gone the other way.

Background

When the tradie was involved in an accident his truck was a write-off — and his tools were damaged beyond use. Under strict interpretation of the terms of his insurance cover any claim for such collateral damage was excluded, but the tradie's Gallagher broker was able to intervene to obtain claim coverage for the tools.

Resolution

This claims case shows that the relationship between a broker and the insurer providing the cover goes well beyond simply securing a competitive premium, when tested in an actual claim situation. In this case the loss of the tradie's tools was recompensed without protracted discussion, enabling him to get back on the job without delay.

We pride ourselves on our claims service

Part of our commitment to building business confidence is fighting for what's right, and supporting clients through claims is one of our key pillars of business practice.

Gallagher claims expertise and 17 case studies are outlined in the Gallagher Advocacy in Action report where you can read more about other real life case studies.

Download the report

Disclaimer

Gallagher provides insurance, risk management and benefits consulting services for clients in response to both known and unknown risk exposures. When providing analysis and recommendations regarding potential insurance coverage, potential claims and/or operational strategy in response to national emergencies (including health crises), we do so from an insurance and/or risk management perspective, and offer broad information about risk mitigation, loss control strategy and potential claim exposures. We have prepared this commentary and other news alerts for general information purposes only and the material is not intended to be, nor should it be interpreted as, legal or client-specific risk management advice. General insurance descriptions contained herein do not include complete insurance policy definitions, terms and/or conditions, and should not be relied on for coverage interpretation. The information may not include current governmental or insurance developments, is provided without knowledge of the individual recipient's industry or specific business or coverage circumstances, and in no way reflects or promises to provide insurance coverage outcomes that only insurance carriers' control.

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