Thinking Ahead


If companies engage with claims experts during the planning process, they gain a much clearer idea of their exposures and potential loss.


“Getting those discussions up front and ahead of time is absolutely one of the key issues to managing that exposure of risk.”


Dave Mahoney, Zurich


Open and transparent communication among the insurer, broker and insured before the loss can ensure that the appropriate coverages are in place when a loss occurs. Ongoing communication is important so that coverages shift as the priorities of a business change. For example, during the recession, many manufacturers have had excess capacity, allowing them to consolidate work when one location is incapacitated. With sufficient extra expense coverage, operations can continue without tapping insurance for loss profits. The best way to plan for these possibilities is to engage the help of claims experts. Getting forensic accountants, adjusters and other claims experts involved before a loss can help companies fully understand their exposures and how best to respond to them quickly.


Copyright © 2012 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.


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