Our approach is proactive, solution-oriented and cost-effective. During the adjustment process, our aim is to achieve the best possible outcome of each claim. This includes a comprehensive investigation of circumstances, assessment of quantum, legal liability and policy liability, providing advice on reserving and on claims handling strategy.
We identify opportunities for early resolution of claims (where appropriate) before any legal proceedings are initiated, for obtaining contributions and/or recoveries from other potentially liable third parties as well as undertake negotiated settlements. We can also issue coverage responses, reservations of rights letters and send declinature letters, where instructed to do so.
Our handling of PI claims aims to ensure a smooth process from first notification through to conclusion, by corresponding promptly with Insureds, their lawyers and/or experts, making direct contact with Claimants when circumstances require, undertaking site visits or meetings as necessary and by ensuring that brokers (local and placing) are always kept up-to-speed on developments, to the extent agreed by Insurers.
When claims involve litigation we can review the proposed legal defence costs budgets, liaise with the Insured’s lawyers to assess their intended defence strategy and monitor and report to Insurers on developments.
If Insurers are summoned to proceedings by the Insured, we can help with the appointment of legal advisors and other experts, assess costs and budgets and collaborate with Insurers’ lawyers to devise the best possible defence strategy to safeguard Insurers’ interests, including ensuring that Policy Liability considerations are raised within legal pleadings, before these are filed in Court.
Our widespread global presence coupled by our adjusters’ professional qualifications (including lawyers, engineers and accountants), multi-lingual capacity and tactful communication skills ensure that PI claims are handled swiftly and cost-effectively. We have a very solid understanding of the civil/tort, regulatory, contractual, administrative, accounting and criminal liabilities to which professionals will varyingly be exposed in a PI claim.
We also have expertise in assessing how cover under PI Policies functions in various scenarios, including knowledge about the importance of Proposal Form declarations, the mechanics of how “claims made” Policies, their insuring clauses, exclusions and general conditions work and interact. Ultimately, we tailor our service to the requirements of the claim and the needs of our instructing principals.
Charles Taylor Adjusting’s Specialty Lines practice encompasses our Financial Institutions and Commercial Crime, Professional Indemnity, Directors & Officers, Cyber, Credit & Political Risks, Specie & Fine Art and Contingency specialisms.