Claims
BMS has a long history of handling and settling claims for marine clients and in engaging with an insured’s in-house claims or adjusting teams.
As such, we see our role here as being in two main parts:
- Ensure that there is close cooperation between insured and insurer
- This is particularly relevant for P&I: Given the nature of the Jones Act, it’s important to ensure good communication between insurer and client as taking care of crew (maintenance & cure, for example) immediately is important to the effective settlement of a claim.
- It is also relevant where there is a large retention or AAD: it’s important that retention and AAD erosion is kept on top of, both for the insured’s benefit but also so that insurers are aware of any incidents that they need to respond to.
- Provide a dedicated claims team that are able to not just pass on claims information but actively engage with markets to settle a claim.