Financial Services Firm - Active Management Liability Claim

A financial services firm came to us not just looking for a new policy - they had an active Management Liability claim in progress. They needed a broker who could manage the claim process with their insurer while making sure their ongoing cover wasn't compromised at renewal.

Their previous broker hadn't been actively involved in the claim. The client had been left to deal directly with the insurer, which put them at a real disadvantage. Without someone advocating on their behalf, things had stalled and the client wasn't confident the claim was being handled properly.

On top of managing the claim, they needed certainty that their policy would renew smoothly - something that's far from guaranteed when there's an open claim on the books.

We took over the broker relationship and immediately got to work on two fronts: the active claim and the upcoming renewal.

On the claims side, we engaged directly with the insurer's claims team from day one. We conducted a thorough review of the existing policy to understand coverage, exclusions, and limits - making sure nothing had been missed or misinterpreted.

We prepared detailed claim documentation to strengthen the client's position. This meant organising the timeline of events, gathering supporting evidence, and presenting the claim in a way that aligned with the policy wording.

At the same time, we began the renewal process - approaching the market while the claim was still open. Most brokers avoid touching a renewal with an open claim because it's harder to place. We saw it as part of the job.

Open claims make renewals difficult. Many insurers will decline to quote or impose heavy loadings when there's an unresolved claim. That's just the reality of the market, and it's why a lot of brokers shy away from these situations.

The claims process itself required careful management. We needed to advocate strongly for the client without prejudicing the outcome or damaging the relationship with the insurer. It's a fine line - push too hard and the insurer digs in, don't push hard enough and the client gets a poor result.

Timing was also critical. The renewal deadline was approaching while the claim was still being assessed. We had to manage both processes in parallel, making sure one didn't negatively impact the other.

We established a multi-year client relationship - they've renewed with us multiple times since. The initial claim was resolved and their cover has continued without interruption.

The client now has confidence that their broker will be there when it matters, not just at placement. They know that if something goes wrong, we'll manage the process from start to finish rather than leaving them to deal with the insurer on their own.