Insurance is a necessary part of life, both for businesses and for individuals, and it can provide much needed support during a crisis. But while the vast majority of insurance claims are resolved without issue, disputes with insurers can arise over, for example, whether a particular event triggers cover under an insurance policy, whether a particular loss is covered by an insurance policy, and how much the insured is entitled to in respect of their claim under an insurance policy.
Insurance affects businesses of every size, whether it be in relation to business interruption insurance, product liability insurance, professional indemnity insurance, directors’ and officers’ liability (D&O) insurance, or public liability insurance. Individuals will also often need their own insurance, such as buildings and contents insurance, travel insurance, or simply car insurance. You may even have legal expenses insurance that can provide financial assistance with your legal costs in the event that you become involved in legal proceedings.
However, if a dispute does arise between you and your insurer in relation to the scope of your insurance cover or a denial of an insurance claim, we can assist you, first of all, with understanding your legal position under the terms of your particular insurance policy. Then, if appropriate, we can advise you on potentially escalating the matter with your insurer, making a formal complaint to the Financial Ombudsman Service (FOS) or, if necessary, even taking your insurer to Court.
Clients involved in disputes over the scope of their insurance cover can often also have related Professional Negligence claims against their insurance brokers, if their broker negligently failed to obtain adequate and effective insurance cover or otherwise provided negligent advice in relation to the scope of the insurance cover being offered. Our Professional Negligence team can assist you with pursuing any such claims against negligent insurance brokers.
Getting early advice on the interpretation of your insurance policy is normally the key to resolving insurance disputes quickly and effectively. Each insurance dispute will depend on applying the individual facts to the specific working used in that particular insurance policy, so finding out where you stand as soon as possible is the most important first step towards resolving any potential insurance dispute.
Our insurance disputes team have many years of experience in relation to advising on the interpretation of policy terms, as well as in assisting clients to make formal complaints against their insurers to the Financial Ombudsman Service. We have also helped clients to negotiate commercial settlements with their insurers in relation to disputes over policy coverage and/or the denial of claims, and where that has not been possible, we have assisted clients to pursue claims against their insurers through the Courts.
To find out more on how we can personally assist you or your business contact a member of our specialist team below or alternatively for other disputes visit our dispute resolution page here.