As wholesale intermediary we act as Agent, Broker, General Agent and/or Excess & Surplus Lines Broker. Our claims function is to receive and direct claim reports to the appropriate market / insurer(s), confirm receipt and help facilitate the process as needed.
Claims / Incidents should be reported to:
Kim Thome ASLI, AIS, AIC, AU - Claims Manager
Russell Bond & Co., Inc.
295 Main Street, Suite 866
Buffalo NY 14203-2595
Telephone: 800 333 7226 ext 191
Facsimile: 800 677 6779
Email: claims@RussellBond.com or kthome@RussellBond.com
WHAT THE BROKER AND INSURED SHOULD DO:
- Your report of any claim or incident should follow as outlined in the insurance policy. Check the policy for special claim procedures. Use the appropriate ACORD reporting form and be sure to include all materials.
- Be prompt, do not delay any notice. Many insurers adhere to strict rules on timely notice of claim. We suggest all claims and incidents be reported when the client first becomes aware of any occurrence that could give rise to a claim. This is especially true when coverage is provided under a claims-made policy form. We recommend you review those forms carefully with your client during the sale, when you deliver the policy and upon notice of any claims or incidents.
- Include a contact name(s); address; phone & fax number (including area code); and email address to facilitate communications between the insurer and client.
- If you or the client report the claim directly to the insurer, we suggest that you copy us (on at least the cover letter) so we are aware of the claim, can confirm receipt and track with the appropriate insurer(s).
- If you have also reported to any underlying or other insurers, please include insurer name, contact name, file number, phone & fax numbers (including area code) and email address for each.
- In general, the Insured should not assume or admit any liability, reveal the terms of any insurance coverage, nor make any statement to anyone except their legal counsel or the insurers’ representative(s).
WHAT WE DO:
- Upon receipt of the notice, we review files to determine what insurers may be involved and forward papers to the market by fax, email or express mail.
- We will provide a copy of our correspondence back to the producing broker so they will know we have received the report and what action has been taken.
- We ask the insurers to copy our office and our producing broker on all relevant correspondence; however, not all markets will do so.
- We will follow with the insurer / market to confirm their receipt and acknowledgement.
- If we receive an acknowledgement or coverage position letter and it does not show the broker receiving a copy, we will endeavor to send a copy to the broker.
- Once we have an acknowledgement, file number, adjuster / attorney contact we will pend the file for further action. The length of the pending depends on the claim, coverage, market and other relative factors.
- Once the insurer acknowledges receipt of the claim, it is important that the insured open and maintain a direct dialogue with the adjuster or attorney assigned to the case.
- Note: Many insurers, especially in professional liability, believe all subsequent action is between the insurer and the client and they will not copy us on subsequent correspondence, nor provide detailed updates without the specific written authority from the Insured.