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| Claims Procedures |
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In the event that the assured is involved in any incident that may result in a loss recoverable by the insurance policy the assured must:
Notify their agent/broker of the incident immediately and provide the following information:
- Full details of the loss, including date, location, cause and damage
- Description of the property involved
- The names and addresses of any injured persons and the nature of their injuries
- The names and addresses of witnesses
(Please Click Here for Broker's Claim Reporting Form.)
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Notify the Coast Guard in the event of a collision or injury. Notify the police in the event of all theft losses and obtain a police case number. Notify the fire department in the event of a fire.
The assured must complete and sign a Vessel Accident Report form.
The assured is required to permit our representative to inspect any and all damages before repairs are made. No repairs which are not immediately necessary to protect the property from further damage are allowed without our prior permission. If such repairs are undertaken, we do not have to reimburse the assured for these expenses.
Once the vessel has been inspected by our representative the assured will be responsible for authorizing repairs. Repairs can only be made once repair estimates have been obtained and are provided to our representative.
The assured should be aware that our representative, which is usually a surveyor or adjuster, is unable to authorize any repairs or comment on coverage issues. They are appointed on our behalf to determine the cause, nature and extent of damage and to review and approve/disallow all repair costs.
The assured should discuss all coverage issues with their agent/broker.
Please check all policies for limitation periods following physical damage repairs as there may be time requirements for submission of claims.
The assured is required to cooperate fully with us in the investigation and settlement of all claims. Furthermore, once the loss has been paid by us any rights of recovery will be transferred to us and the assured must continue to cooperate and assist in our recovery efforts.
In the event of a claim where an action or suit may be brought against the assured by another party, the assured shall not assume any obligation or admit any liability, without the written approval of underwriters. The assured shall, whenever required, assist in effecting settlements, securing and giving evidence, obtaining the attendance of witnesses and attend hearings and trials. |
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