A few years back, a major financial institution retained us to review its insurance coverage program. After checking the main items I usually look for, I asked the Risk Manager whether the heads of the organization’s various business units knew the basics of the notice provisions in the company’s major coverages. I could see her

“For want of a shoe, the horse was lost,” goes the old saying.  If you handle claims from the policyholder side, nothing will aggravate you more than seeing a perfectly good claim go awry because of poor risk management controls in an organization, especially the failure to give notice under potentially applicable insurance policies.

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