“Initiating Insurance Claims”

Instructor: Koray Demir, MRICS, PMP, CCME

Initiating Insurance Claims
 First Action: Notify the insurer (or the principal of the policy) in time

 Consult with your insurance broker about the event.

 Start gathering the costs related to resolution and correction of the

problem.

 Cost is comprised of all involved parties: not only yours.

 Cost should be the actual costs. Insurers may not accept

estimations.

 Take photos and videos of the event immediately

Initiating Insurance Claims (cont’d)
 Insurance pays the cost for fixing

 Deductibles and coverage limits are based on single event, not

combination of multiple events.

 Multiple events might be similar in nature but considered as

individual single events occurring at different locations.

 Prepare a comprehensive report of the event which can be

provided to the loss adjuster appointed by the insurer.

 Non-recovered portion should be charged to the party causing

the event.
Subcontractor Insurance Claim

 If covered by your insurance policy, Subcontractors

may want to make use of your policy.

 Subcontractors should be allowed to make their

claims even if the event is due to Subcontractor’s
failure.