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Chilean earthquake

What happened?

Settlement of a major property claim was being delayed by the Lead who continued to ask for additional information. Unusually, the broker approached Catlin asking us if we would consider paying our share.

Our manager reviewed the report and decided that any additional information would not affect the outcome. He agreed to make a payment on account, but also thought that it would serve everybody’s interests if funds were made available from the whole of the slip (the other insurers). He then spoke to the other follower, and finally to the Lead, persuading them also of the strength of the case. Everyone agreed to immediate payment.

Broker reaction

The broker was delighted; and their relationship with the client was reinforced at the subsequent meeting in Chile.

Conclusion

We appreciate the importance of the broker-client relationship. Our global reputation and willingness to go the extra mile can often speed up the settlement process.

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