Source: https://www.irmi.com/, March 17, 2023
By: Jeff Slivka

Many contractors professional liability (CPrL) insurance claims are denied simply on the basis that the error, incident, and/or circumstance was reported after the date required within the insured’s policy. As a result, CPrL insurance holders should be well-versed in all the facets of their policies, especially the ones that can negate claims and forfeit the insured’s restitution rights.

That’s why it’s always best to report potential claims in writing, while also strictly adhering to the policy’s reporting guidelines. This will not only help prevent the denial of claims but also help to better engage the insurer and gain their assistance while trying to resolve any or all actionable issues. Read more.