On June 11, 2024, Steven M. Bundschuh and Kevin J. Stimpfl from Stimpfl, Manashirov & Bundschuh, PLLC (“SMB Law”) presented to the claims department at Berkley Environmental Insurance Company. The presentation focused on strategies for investigating and handling property damage and construction defect claims and lawsuits. Their insights provided practical tools for managing complex cases and mitigating risk. Some of the topics discussed included:
Early Investigating
A proper investigation is the foundation of an effective resolution for claims and lawsuits. Steven and Kevin emphasized the importance of quickly gathering critical documentation to build a strong case. They also discussed identifying risk transfer opportunities by pinpointing key parties involved, such as contractors, subcontractors, or third-party vendors, and ensuring all potential avenues for liability are explored.
Communication with Clients and Relevant Parties
Clear and efficient communication with clients and other necessary parties is essential for successful claims management. Steven and Kevin emphasized the importance of collecting detailed business information, including the insured’s operations, the circumstances surrounding the loss, and any prior or subsequent loss history. They also outlined the importance of requesting necessary documents upfront to streamline the evaluation process.
Risk Transfer and Liability
Understanding risk transfer mechanisms is crucial in liability claims. Steven and Kevin delved into the nuances of indemnity provisions, commonly referred to as hold harmless clauses, and how to analyze them effectively for claim resolution. They shared best practices for tendering claims, ensuring timely and comprehensive responses from other insurers or indemnitors. Attendees gained insight into how insurance requirements from contracts can play a pivotal role in determining liability and facilitating favorable resolutions.
Expert Retention
Complex cases often require the retention of specialized experts. Steven and Kevin explained how to strategically utilize liability and damages professionals. They discussed the appropriate situations and timing for engaging various types of engineers and other cause-and-origin experts to assess liability, as well as building consultants, appraisers, and forensic accountants to determine damages. Retaining the proper experts can provide invaluable support for both the liability and damages aspects of cases.
Looking Ahead
This presentation highlights SMB Law’s commitment to equipping claims professionals with comprehensive knowledge and practical tools to excel in their roles. By equipping attendees with the skills to navigate sophisticated claims, Kevin and Steven reinforce the importance of ongoing education and collaboration within the industry.
For more information on how our team can support your claims and legal needs or to schedule a presentation for your organization, contact us today.
