RCM&D Corporate Blog

Is it a claim?

Posted on: Tue, 23 Feb 2016

We commonly receive questions from clients regarding whether or not a particular matter should be considered a claim.  Management Liability insurance policies – Directors & Officers, Professional, Employment Practices, Fiduciary, and Cyber – are subject to specific claim reporting requirements. Failure to report a claim or provide notice of a potential claim could negate coverage when it is needed most.

Any of the following could trigger a current or future claim under one or several policies:

  • Notice of a regulatory investigation;
  • Enforcement action;
  • A request to waive or toll a statute of limitations;
  • An EEOC complaint;
  • A letter from a shareholder voicing concerns about recent management decisions or a drop in share prices;
  • Any matter that may reach an internal error log; and/or
  • A demand or suit.

At RCM&D, we are here to serve as a constant resource to you.  A general rule of thumb w call us any time and every time you have questions about coverage.  Our skilled experts can provide a comprehensive review your policies for coverage along with ongoing support through the entire claims process, from the initial report of claim to resolution.