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Complex insurance claims can have serious consequences for a business, affecting cash flow, project delivery and, in some cases, its wider financial stability.
Yet securing the expected indemnity is becoming increasingly challenging. Complicated policy wordings, interconnected risks and greater scrutiny from insurers can make the claims process slower, more technical and increasingly contentious.
Our risk advisory division, Prospect Risk, recently published a new article examining the challenges companies face when pursuing insurance claims. It considers:
Prospect Risk provides independent insurance and risk advice without placing insurance or receiving commission. Working alongside Prospect Law’s specialist legal expertise, the team can help businesses understand their coverage, develop a clear claims strategy and challenge insurer interpretations where necessary.
Where an insurance claim develops into a dispute, specialist legal advice may also be required to examine the policy wording, challenge the insurer’s interpretation and determine the most appropriate route towards resolution. Prospect Law’s insurance and dispute resolution lawyers (link to dispute page) work alongside Prospect Risk’s independent risk specialists to provide joined-up technical, commercial and legal support.
Read the full article on the Prospect Risk website: Why Insurance Claims Are Becoming More Challenging for Companies and Why Independent Oversight Matters.
Prospect is a multi-disciplinary practice with specialist expertise in the energy and environmental sectors with particular experience in the low carbon energy sector. The firm is made up of lawyers, engineers, insurance and risk management specialists, and finance experts.
This article remains the copyright property of Prospect Law Ltd and neither the article nor any part of it may be published or copied without the prior written permission of the directors of Prospect Law.
This article is not intended to constitute legal or other professional advice and it should not be relied on in any way.
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