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Risk in Context Podcast: Natural Catastrophe Claims Best Practices

Marsh’s Rob Powell and Bob O’Brien talk about what policyholders should expect when managing natural catastrophe claims, how catastrophe claims can differ from other types of losses, and the steps a business can take before a loss to help manage the recovery process.
A night time, tornadic mezocyclone lightning storm shoots bolt of electricity to the ground and lights up the field and dirt road in Tornado Alley, Roswell New Mexico

07/21/2021

Natural catastrophes are unlike other types of property and business interruption losses. It’s thus important that policyholders understand how the claims process works and have plans in place to manage claims after potential losses.

This episode of Marsh’s Risk in Context podcast features Marsh’s Rob Powell and Bob O’Brien on the challenges that businesses often face while managing natural catastrophe claims and the steps they can take before losses to help manage the recovery process.

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Key takeaways

While all natural catastrophes share some similarities, every event can present unique challenges.

To effectively manage catastrophe claims, businesses must develop scalable and flexible plans before they face potential losses.

Communication among stakeholders is vital to the success of a claim.

Policyholders and their teams should also focus on careful but quick documentation of physical damage, civil authority orders, service interruptions, and other factors.

Tabletop exercises can help policyholders, insurers, and other stakeholders better understand the nature of a policyholder’s business and how the claims process will work, and identify potential problems or questions that are better addressed before a loss.

About our speakers

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Bob O'Brien

Senior Property Claims Officer of Marsh US Property Claims Practice

Bob O'Brien is a senior property claims officer of Marsh US Property Claims Practice. His responsibilities include helping Marsh clients successfully resolve first-party property and time-element loss claims. Bob works closely with Marsh colleagues to develop manuscript policy language and is a resource for colleagues and clients on the practical and historical interpretations of various property policy coverage provisions.

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