Did you know that there are three distinct categories of claims for design professionals — pre-claims, potential claims and actual claims? All three differ greatly when it comes to coverage.
Pre-claim: A proactive approach to protection
There may a situation where you’re issued a subpoena from one of your clients to produce records or documentation or testify in court. More than half the time, they’re looking to pull you into the claim. Or, you may find yourself at arms with contractors because they underbid projects and issued multiple change orders. In either case, it’s worth mentioning to your broker to start the pre-claim process.
We’ll work with you and notify your carrier of a pre-claim. When the carrier gets actively involved, it costs you nothing — but provides peace of mind. There’s no deductible, there’s no cost, and if counsel is needed, you are not responsible for the fees. Pre-claims are a value-added benefit to make sure you’re covered if circumstances are likely to evolve into an actual claim. The earlier in the pre-claim process you involve us, the more we can help lessen your exposure — legal, professional and financial.
Potential claim: Heading off potential litigation
Imagine a consultant on your site falls off a ladder, breaks his leg and is rushed to the hospital. An attorney may catch wind and sue everyone on the project — or everything may return to business as usual.
A potential claim is a way of informing the carrier about a situation that arose on a project that you participated in. When a situation occurs that could potentially lead to a claim and jeopardize coverage, Marquis Premier Professional clients know their first call should be to our experienced team. We’ll put our expertise regarding your coverage and carrier to work to head off potential litigation.
Claim: Working toward fast, fair resolution
If you receive a written or verbal threat, a demand for money or services, or you’re served with an actual lawsuit, it’s time to file an actual claim.
An actual claim is straightforward, as it’s defined on the policy form. When a claim is filed, you’ll receive personal support during the process for a timely, equitable resolution. Marquis Premier Professional also provides insight into minimizing future losses through analysis of your past claims history and trends.
You may think you’ll do more harm than good when notifying us before anything happens. We understand you’re worried your premiums might go up. But a pre-claim won’t be factored into your loss ratio. You’re always at more risk for not
reporting an incident.
us today to learn more