And Finally…

Insurers are making an investment decision every time they decide whom to insure. Just like you, they want to make sure their investments are safe. Be a coveted account for insurers. Insurers can underwrite only a limited amount of business. If your business is deemed to be a good risk, an insurer may provide more favourable conditions.

• Report all claims to your insurance representative promptly. He/she can advise you of your rights and obligations. Failing to give prompt notice may result in denial of the claim.
• Ask your insurance representative for assistance with the claims process. He or she may provide advice, act as an advocate, and help compile claim documentation.
• Ensure insurance policies are kept up to date. Renew policies to ensure coverage is continuous.
• Ensure premiums are paid on time. Non-payment of premiums may result in cancellation of your policy.
• Keep all old insurance policies and certificates. Some claims may not be made for many years.
• Inform your insurer about any new risk management policies, procedures, practices and other features that your organization has implemented.
• Loyalty to your insurer is important, but shop around occasionally. You need to be sure that your insurer is being competitive.
• Cooperate fully with insurance inspectors, adjusters and any other insurance company representatives that may visit you. Your insurer and you have the same goal – to prevent losses from occurring.