LASA Q Focus Magazine - Leading Age Services Australia ...

INSURANCE••In conjunction with theinsurance broker, decide onand appoint the assessor(for property claims) or legalcounsel (for liability claims).Agree these with yourinsurers early to ensure thereare no issues down the trackparticularly on your lawyer’scharge out rates.••For property claims - checkyour policy to see whatcoverage is provided forclaims preparation costs. Alot of people do not knowthis coverage is availableor how it works but it canbe invaluable in saving youtime and maximising thesettlement claimed. Thissection pays for the costsassociated with engaginga consultant to assistwith collating the claiminformation for submissionto Insurers – a huge boostin this day and age whereeveryone is so time poor.••For liability claims – checkyour policy on whatcoverage is available formitigation costs. Sometimesit is more effective to putin place other measureseither in terms of additionalservices or products/discounts by negotiationwith the claimant thansimply sending it to insurersand allowing an expensivelegal process to ensue.Spending $30,000 up frontmay save your Insurer(and claims history) tens ofthousands of dollars but notall provide for this type offirst party indemnification.••If the claim looks to be alengthy, complex one, agreeon a regular communicationprocess with your insurancebroker and Insurer as thiswill eliminate confusionand timeframes being blownout which is critical in therebuild process for example.••Agree with Insurers toappoint a project managerfor any building works toensure it is kept on track andthere is no waste. You arenot a builder and should notbe expected to scope and runa project of that kind.An insurance claim should not bean arduous experience as this iswhat you pay thousands of dollarsin premiums for each year – butyou do get what you pay for.If you would like any additionalinformation or to discuss anyclaims issues please do nothesitate to contact our team atAustralian Reliance in Brisbaneand we’d be more than happy tohelp.Carwyn LlewelynDirector/PrincipalAustralian RelianceAdvertisein our next issueCommunityMembersResidentialRetirement LivingLegislationTechnologyFor advertising contactHugo Silva on07 3725 5555 orhugo.silva@qld.lasa.asn.auLASA-Q Focus | Autumn edition 2013 33