Major incidents in business - such as fire, flood or other unexpected interruption - threaten not only short-term profitability, but potentially the survival of the business itself. Prompt and fair resolution of the resulting insurance claim is an important part of the business recovery. Proactive management of the claim process, from assessment of the loss to negotiation of a settlement, will reduce delay of settlement and avoid disputes.
In our experience, the most common reasons for requiring this service include:
- A major loss due to an insured incident (fire, flood, storm damage, product recall)
- The inability to prepare an adequate insurance claim due to lack of resources or insurance expertise
- Difficulties in resolving an insurance claim
A key component of successful insurance claims work is the development of a Loss or Claim Management Plan. The plan documents procedures and resolution strategies for all components of a loss. The development of this plan is a co-ordinated, transparent effort between the client, the broker, the loss adjuster and PricewaterhouseCoopers that helps ensure a dispute-free settlement.
How PwC can help you
Our dedicated insurance claims team comprises specialist claims managers and loss adjusters with in-depth business experience across all industry sectors. Our consultants are located in the Asia Pacific region and around the world. We provide leading independent advice to ensure a prompt settlement and efficient business recovery.
We assist clients in the preparation, presentation, management and negotiation of insurance claims. Our claims handling services include:
- Loss management planning
- Incident management
- Loss quantification and claims preparation
- Forensic investigation
- Recovery management
- Negotiation and settlement
- Specialist loss adjusting
