What should I do if a liability or injury claim is made against me?
- Any occurrence or circumstances that could give rise to a claim must be reported immediately
- Call your insurance broker right away to file a liability claim report with Oceanic Underwriters
- Assume no obligation, admit to no liability or incur any expenses for which we are or may become liable without written permission, except incurred to protect the property from further loss
- Gather any documents, correspondence, memos, etc. that may be pertinent to the claim
Once the claim is reported, what happens next?
- Oceanic will appoint a claims adjuster to investigate the circumstances of the loss
- Oceanic will assess the claim to determine what coverage is available
- Oceanic will evaluate the claim and will direct any further investigation or litigation necessary
- In the case of a legal action made against you, Oceanic will evaluate whether a Defense is owed by the policy and appoint experts and/or lawyers for the defense team
What is my role throughout the process?
- Fully participate and cooperate in the investigation and the defense of the claim against you
- It is important that you share all information that you have about the claim with your claim team
- Be prepared to attend examinations for discovery, mediation, settlement conferences, or a trial
How do settlements and policy payouts work?
- Oceanic has the option to settle a liability claim without your consent to settle
- We will pay up to our limit of liability for any one occurrence. We will settle or defend, as we consider appropriate, any claim or suit asking for these damages. Our duty to settle or defend ends when the limit of liability is exhausted
- Your coverage is subject to a deductible and you must pay that amount when requested
- Payment will be issued to the claimant, if required by a settlement, mediation, trial or arbitration