Our philosophy on claims management
One of LAUW’s most important obligations to policyholders is the way we respond to claims. From the first notification to final settlement or closure of the file, we realise our insureds must receive the very best service.
For that reason, LAUW uses the services of DCS Asia Pacific, a Sydney-based specialist commercial liability claims management operation.
Unlike many other claims management services, DCS specialises in the insurance classes that form the backbone of LAUW’s account. DCS’s strengths include:
• Unrivalled claims management services
• Australian expertise and presence
• Sensitivity to commercial relationships between insureds and their clients
• Respect for the need to maintain insureds’ professional reputations
• Immediate access to specialist advice – legal, adjusting or otherwise
• Ultimate cost savings for insureds
Management liability
Management liabilityBenchmark is LAUW’s comprehensive, competitively priced management liability solution for small-to-medium companies.
The policy protects individuals and the company from exposures associated with managing a company. It is targeted at not-for-profit organisations and private and public unlisted companies.
The policy offers the following insuring clauses: directors & officers’ liability; company reimbursement; employment entity liability; fidelity; entity cover; and fiduciary liability.
Benchmark is designed to protect a company’s financial wellbeing and its directors and officers’ personal wealth.
The product is tailor made for small-to-medium companies where assets are $A100 million or less and/or revenue is $A200 million or less.
Talk to a LAUW specialist about your clients’ requirements and how LAUW can fulfill them.
Product overview – D&O liability
Company directors and officers face the real threat of incurring personal financial liability because of their actions in the work arena.
Directors and officers include people acting in managerial or supervisory capacities, including employees who make decisions that affect the whole, or a large part of the business of their companies, or have the capacity to significantly affect a company’s financial standing.
Legal actions are commonly brought against individuals by shareholders, regulatory authorities, creditors, customers and employees. D&O cover protects individuals against personal liability in a range of circumstances.
LAUW’s Shield policy delivers a broadform cover for medium-to-large companies seeking quality D&O coverage. Shield is tailor made for companies with assets exceeding $A100 million and/or revenue of more than $A200 million.
Talk to a LAUW D&O specialist about the coverage your clients may require. LAUW has a broad appetite for D&O ranging from small private companies through to larger listed entities.
Our service standards
As the June 30 deadline approaches, the flow of submissions to LAUW for renewals and new business increases. However, despite the increased workload, we’re very pleased to be retaining our commitment to high service standards. The typical turn around for renewals and new business is still within 48 hours – 92% of submissions received are processed within that time frame.
Underwriting Agencies Council broker expos
LAUW has participated in the Melbourne and Sydney UAC expos and received positive feedback from brokers.
We were able to showcase our products to new brokers and the LAUW team at both expos noticed an increase in queries from general brokers about professional indemnity and management liability products.
LAUW’s attendance at the expos assisted in creating a greater awareness of the company and its specialist products. LAUW over the longer term will continue its commitment to the expos.
Any brokers who missed catching up with the LAUW team at the Melbourne and Sydney expos should give us a call on the number below or drop us an email. We’d be happy to outline LAUW’s specialised products to you.
News Alert June 2010