Partnering with Aegis General Insurance
There are times when municipalities deal with intense pressure providing services to the denizens of their city. They often have concerns over financial distress and budget decreases, which can make a difficult job even harder. At times like these, maximizing insurance coverage has never been a more critical issue. Frustration can easily result in frivolous lawsuits being filed and lawsuits for employment practices arising out of reductions in staff.
Many also point out a rise in misconduct by company executives and public officials alike, which is likely to spawn even more litigation. When litigation strikes, Aegis General Insurance would like to be there as a resource to cover defense and indemnity costs. But maximizing insurance coverage also requires a risk management program that embraces far more than simply buying the right policies. Following a couple of resourceful tips can vastly increase the odds that your clients insurance will work as they intended it to when they made their purchase.
Insurance is a key asset
If insurance is properly considered as a way to transfer risk at the time of purchase, it should be treated as such. Insurance policies should be thought of as critical assets equivalent to cash, which can also serve as a significant defense against unanticipated liability as certain types of claims, including environmental liability claims, may not be revealed until long after the damage has occurred. In this digital age, it is recommended that your clients scan and properly secure digital images of all policies so that they may readily access these assets when coverage must be confirmed years after the policy was purchased.
Give timely notice of a claim or loss
Timely notice is a requirement under most insurance policies, but unfortunately, quite often policyholders get caught up in defending a lawsuit or responding to an economic loss and forget to inform their insurance company of a loss. Never wait to give notice, especially since municipalities now constantly deal with aggressive investigative journalists, along with viral videos (for example, alleged excessive force by police officers) posted and aired on websites such as YouTube.
In order to facilitate fast service in light of these types of issues, implore your clients to make certain that notice is sent directly to their insurance company the moment an insured incident occurs. If the broker/agent is utilized, they will get faster solutions, and hopefully the desired results. When it comes to insuring municipalities, your customers can rely on Aegis General Insurance to provide the right policy for the right conditions.