As your brokers, we are responsible for providing you with claims advocacy and administration support. And now, in this challenging time and with many going through or querying the claims process, SATIB is doing everything possible to drive this process alongside you.
In the best of times, formulating an insurance claim is complex and time-consuming. But with Insurers providing little to no latitude on COVID-19-related Business Interruption claims, the process has become more onerous than ever and represents the highest of stakes.
As you embark on this process, with your dedicated broker at your side, keep in mind some of these preliminary steps in the insurance claim process – during times of COVID-19 and beyond:
Contact your insurance broker immediately
It is never too soon after being hit by a loss to call your insurance broker. They can advise you on the next steps and what you should and shouldn’t do.
Based on the information you provide, your broker will answer the following questions regarding your claim:
- Is the damage covered under the terms of your policy?
- What is the timeline for filing and processing a claim?
- Does the claim exceed your deductible?
- What supporting information do you need to provide, e.g. photo evidence, repair estimates, etc.?
Rutilio Usayi, Executive Head Group Claims at SATIB, advises clients to keep their broker’s number on hand – speed-dial if you will – and in the event of an emergency, make use of SATIB24 Crisis Call.
SATIB24 is a 24-7 operations centre that coordinates an integrated response from emergency medical, security and incident management specialists. This service ensures that SATIB clients have access to the right resources when there is no time to spare.
For COVID-19-related Business Interruption claims, your broker will advise you to submit your claim as soon as possible. Because the sooner the Insurer can formulate a response to your claim – the sooner your broker can make a plan of action going forward.
Also, keep in mind that some Insurers have instituted a COVID-19 exclusion for all claims submitted after a stated deadline. Your broker will advise you on any deadlines of which you need to be aware, whether or not your claim would be viable and what documentation will be required.
Collect evidence to justify your claim
Policyholders should clarify through their brokers what evidence the Insurer requires to substantiate the claim. And the more evidence you can provide to back up your claim, the better.
If you have suffered material damage to your property – from fire, flood, or storm – make sure you capture the damage in photos or video. It is important to do this as soon as it is safely possible and keep meticulous records of dates and locations, if applicable.
Witness testimonies also serve as evidence. Be sure to capture all relevant contact details so that your broker, Insurer or Adjuster can follow up with the individual(s) in question.
In the case of COVID-19-related Business Interruption claims, insurers are asking for the following to confirm whether a valid claim exists:
- Identify the presence, at the relevant time, of COVID-19 at or within a 40km radius of the premises.
- Provide proof that the interruption of the business was due to the presence of that COVID-19 manifestation itself and not some other cause.
This requirement from insurers is in line with how they have chosen to interpret the insurance cover provided. SATIB is questioning this kind of strict interpretation and putting pressure on insurers to clarify how this requirement is to be achieved.
Do not assume liability
If your organisation is accused of alleged wrongful acts or negligence, do not assume liability without first speaking with your insurance broker. Liability depends on various factors and is determined on a case-by-case basis.
This is not to say that you shouldn’t exercise empathy and do your utmost to offer assistance if, for instance, someone suffers an illness or injury on your property. But suggesting that your organisation is liable may complicate your claim down the line – in the event that legal action is brought against you.
Third-party liability is a topic that may grow increasingly pertinent as businesses begin re-opening. But as of yet, it is unclear how insurance providers and policies will respond if a customer or guest contracts COVID-19 on your premises. This is the unprecedented nature of COVID-19 – but rest assured that your broker will keep you abreast of any and all developments as we move through this crisis together.
SATIB will continue to do absolutely everything in our power and beyond to get you the answers you need, put pressure on Insurers and Reinsurers, and seek favourable legal opinions. In the meantime, do not hesitate to lean on your broker who is always in your corner when it comes to claims and getting you the best possible outcome.
