Insurance Update
By John Reggars

I am pleased to advise that COCA’s relationship with AON/QBE has proved to be beneficial for all concerned.

COCA’s commitment to Risk Management has been embraced and encouraged by the Underwriter and has resulted in only one claim being made. This particular claim may not even come to any formal legal action and it is still being investigated by QBE’s lawyers.

COCA has set up a Claims Committee which will work closely with the insurer to assist in any legal defence by providing expert opinion as well as Expert Witnesses should the need arise. This close co-operation will also assist us in identifying potential areas of concern or increased risk which can then be addressed in COCA’s ongoing Risk Management Program.

With this in mind, I remind members to notify AON of any incident which may have give rise to a formal claim. Simply notifying AON of a potential claim will not in anyway adversely affect your PI insurance but it may help us identify areas of practice which might need to be included in our Risk Management Program.

AON, QBE and COCA are committed to a long term relationship and it is hoped that by this commitment and with the introduction of some of our initiatives, such as Risk Management, we may stem the tide of the ever increasing insurance premiums.