Claims philosophy

Principle
 The claims philosophy should be clearly documented and communicated within the syndicate, and reflected in the management and organisation. 
Minimum standards 
  • The managing agent’s philosophy includes executive and board commitment to, and oversight of, an effective claims management process.
  • The managing agent’s philosophy relating to the management of claims is documented and communicated to staff.
  • Each managing agent’s business strategy should address the management of claims.
  • Claims experience (information and knowledge) is available for, and used in, business planning and decisions.
  • The managing agent’s philosophy includes a commitment to respond appropriately to claims enquiries and to manage claims in accordance with applicable standards.
  • An agency board member is accountable for effective claims management.
Last updated on 12 Dec 2007