Incorrect Coverage – Case Study.
At WSIB we pride ourselves in drilling down into the detail of your insurance coverage to ensure your cover responds when you need it.
The Client: Our Client is a licensed Social Club with Aquatic assets.
The Issue: Upon being engaged to tender for the insurance, a thorough review of the current cover was conducted which revealed that the Aquatic assets had never been insured, despite being declared on the asset schedule and being charged on the premium.
The Resolution: WSIB negotiated with the current Insurer to immediately delete the exclusion pertaining to the Aquatic assets to ensure the cover was effective. Upon renewal, negotiations were entered into with a number of Insurers with the final result being that the Client paid less for their insurance and the required coverage was in place.
Case Reflection: It is easy for a Client to believe they have all the right cover in place based on the summary documentation provided, however, “the devil is in the detail” and our experts at WSIB will conduct a thorough analysis of every insurance product to ensure there are no surprises.