Business Claim

Complete a Claims Report
Your broker will assist you in completing a claims report (Proof of Loss) and can submit it to the insurance company on your behalf. They will guide you through the entire claims process, outlining the forthcoming steps and addressing any inquiries you may have. Once the insurance company receives the report, they will assign a claims adjuster to your case. This adjuster will meticulously review all documentation and determine the next course of action, as well as the outcome of your claim. If you choose, your broker can serve as a liaison between you and your adjuster, facilitating communication and ensuring that the claim proceeds efficiently.

Documenting the Loss
You will need to collaborate with the adjuster, providing comprehensive information about the cause of your claim and the extent of the damage. In property claims, the adjuster may conduct an on-site inspection to assess the damage. You may be required to furnish a sworn statement and complete a Proof of Loss form. In cases involving criminal activity, such as an Employee Dishonesty claim, it's necessary to supply a copy of a police report detailing the incident. Your broker may continue to assist you at this stage, advocating for your interests and ensuring that the claim is handled to your satisfaction.

Reviews and Resolutions
The insurance adjuster will meticulously review all claim-related information and any required documentation. Subsequently, they will make a recommendation to the insurance company regarding compensation, which could include full payment, partial payment, or the denial of your claim. This recommendation is then forwarded to an examiner who will conduct a final review and make the ultimate decision.
Depending on the severity of the loss, you may need to enlist the services of a third party to support the Proof of Loss form. This third party could be a forensic accountant, contractor, or appraiser. Disputes are infrequent in business insurance claims, as most reputable businesses maintain comprehensive records and regularly submit statements to the government.
 

Claim Resolution
Following the review of the Proof of Loss form, supporting documents, and the adjuster's recommendation, the examiner will reach a decision concerning the claim's outcome. If necessary, the insurance company will recommend a preferred contractor or mechanic for any necessary repairs. You will be responsible for covering any applicable deductibles, after which the insurance company will provide the agreed-upon compensation. Depending on the nature of your claim, this compensation may encompass employee salaries, loss of sales or inventory, replacement of vehicles or property repairs, and reimbursement for losses incurred due to employee theft. It's essential to note that you have a two-year window from the date of loss to complete the claims process.

If you have experienced property or business-related damage and have further questions about your insurance policy, please do not hesitate to reach out to your DeJong's Insurance broker. For information on how to proceed with a claim through your specific insurance company, visit our Insurance Centre. If your insurance company is not listed there, kindly refer to your policy for contact details.