Insurers moot lead underwriters in claim process
The insurance community is working on a new initiative to address the way it handles claims. Unlike the aerospace insurance where a lead underwriter takes control of the process, in the space market each underwriter is effectively the lead for their own…
The insurance community is working on a new initiative to address the way it handles claims. Unlike the aerospace insurance where a lead underwriter takes control of the process, in the space market each underwriter is effectively the lead for their own claim.
To that end, the industry at the recent World Space Risk Forum in Dubai discussed coming up with a new protocol whereby two or three of the underwriters would get together to lead the claim process.
Whether this happens of course is a different matter, as there is always an element of self-interest in the claims process.
