Top 6 things to Do After a Large Business Insurance Claim

Knowing that 40% of companies fail to recover from catastrophic events, is your business prepared to handle a major commercial insurance claim? When navigating the complexities of a large business insurance claim, it’s essential to act swiftly and with the right expertise. At Robertson Insurance, our proven experience in handling complex commercial claims provides you with the guidance and support needed to secure your company’s future.

With expert advice and strategic planning, you can transform a potentially crippling event into a manageable challenge. This article serves as a practical guide for businesses dealing with the aftermath of a large business insurance claim. Drawing on our years of experience, we share insights that have helped numerous businesses rebound from significant losses.

Read on for our six essential steps or contact us now for tailored support to meet your immediate needs!

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Unraveling the Commercial Insurance Claim Process

The commercial insurance claim process can seem daunting, especially during a period fraught with challenges. By knowing what to do and having a good plan, filing a commercial insurance claim becomes less scary and more like a straightforward way to get back on track. Here’s how to tackle it step by step:

Immediate Notification: The moment you encounter a loss, promptly inform your insurance provider. This involves thorough communication with claims examiners to ensure proper evaluation and processing. Delaying this critical first step can complicate the claims process and potentially affect the outcome as timely notice is a condition in the insurance policy.
Detailed Documentation: Begin compiling evidence immediately. This includes photographs of the damage, a written account of events leading up to and following the incident, and any relevant financial documents. Please seek approval from your claims professional before disposing of evidence which could impact recovery efforts. Comprehensive documentation is your best ally in substantiating your claim.
Review Your Policy Thoroughly: Familiarize yourself with the specifics of your policy coverage, deductibles, and exclusions. Understanding the nuances of your policy ensures you know exactly what is covered and helps set realistic expectations for the claim outcome.
Prepare for the Commercial Adjuster: A commercial adjuster will be assigned to assess the damage and estimate the cost of repairs. Prepare for the catastrophe adjuster and claims examiner by compiling detailed documentation to support your claim. When dealing with a business insurance claim, be ready to walk them through the incident scene.
Professional Estimates: Obtain estimates from licensed professionals you trust for repairs or replacements. These estimates will provide a benchmark for the insurance company’s offer and help in negotiating a fair settlement.
Stay Proactive in Communication: Maintain open lines of communication with your commercial insurance agent and adjuster. Regular updates can help speed up the business insurance claim process. If you are a larger organization, it may be beneficial to designate one point of contact within your organization who will lead communication with the insurance company.

By following these steps, you place yourself in a position of informed strength. Reach out to Robertson Insurance for expert guidance and support tailored to your unique situation.

Mastering Communication with Claims Examiners and Adjusters

Navigating the communication with claims examiners and commercial adjusters is important in the aftermath of a significant business insurance claim. Our dedicated Risk Advisor & Claims Advocacy Lead has years of expertise in these essential negotiations. He will become your strongest advocate. Here’s the undeniable difference our guidance makes:

Precision-Driven Preparation: Our approach begins with exhaustive preparation, where we meticulously organize and review every piece of documentation. This precision not only speeds up the claims process but ensures that every claim detail is accurately represented, leaving no room for oversights that could jeopardize your claim.
Expert Advocacy: The complex language of a commercial insurance claim and the subtleties of negotiation can be daunting. Our seasoned Risk Advisor & Claims Advocacy Lead steps in as your professional advocate. Our expert advocacy ensures seamless communication with both commercial adjusters and claims examiners, minimizing the risk of misinterpretation.
Avoiding Pitfalls: Without seasoned guidance, businesses face the risk of falling into common traps, such as miscommunication, inadequate documentation, or even inadvertently accepting a settlement that falls short of covering your losses. Our proactive management and advocacy circumvent these pitfalls, safeguarding your interests throughout the process.
Streamlined Communication: We take charge of the communication flow, ensuring that your case moves through the claims process without unnecessary delays. Our expertise means we anticipate and address potential sticking points before they become issues, maintaining momentum toward a favorable resolution.
Beyond Settlements: Our commitment extends beyond reaching a settlement. We also provide advice on developing a comprehensive risk management plan and insurance optimization. This turns the experience into a learning opportunity to strengthen your business against future claims.

Our Proven Approach with Commercial Adjusters and Examiners

Navigating the intricacies of a commercial insurance claim, from filing to final resolution with a commercial adjuster, can feel like steering through a storm. At Robertson Insurance, we bring calm to the storm with our expertise, bolstered by the specialized knowledge and the experience of our Risk Advisor & Claims Advocacy Lead, Matt Stinger, who offers the following reflection:

“Over the past year, I’ve been surprised by the number of clients I’ve helped resolve insurance claims. I’ve advocated for clients needing specialized, high-value equipment to be replaced and back in operation. I’ve also challenged insurance carriers’ coverage decisions when they limited or denied coverage, proving otherwise. Additionally, I’ve secured better valuations for our clients’ damaged equipment, despite rising inflation. Without this advocacy, some businesses could have faced severe financial strain, possibly leading to closures or significant cutbacks in their operations.

What surprised me most is that these issues weren’t unique to a single carrier. These were reputable insurers known for their service. This highlights the importance of partnering with an agency that has invested in an experienced claims professional who understands how claim decisions are made. Robertson Insurance recognizes the value of this service, and I feel privileged to help clients get the most out of their insurance.”

If you’re ready to see how expert guidance can transform your approach to business insurance claims, reach out to Robertson Insurance today. Top of FormBottom of Form