Fast Track Claims: Simplifying small cargo losses15th March 2021
At NMU, we recognise the impact a fast and efficient claims service has for both brokers and policyholders. Even small claims can take months to resolve and lead to a number of issues, often impacting operations and day-to-day management of our clients’ businesses.
Taking these factors into account, back in June 2020 we launched our revamped cargo wording and expedited cargo claims process, specifically designed to address the issue of protracted cargo claims.
Fast and fair claims settlement
In order to make the cargo claims process simpler and more efficient for both brokers and policyholders alike, Fast Track Claims allows for small cargo losses (GBP2,500 or less) to be submitted by the policyholder, electronically via our web portal. When using Fast Track Claims, NMU policyholders aren’t typically required to submit any formal supportive documentation, further speeding up the process.
Claims submissions are handled by a dedicated team of in-house experts who process settlement, with policyholders receiving reimbursement via BACS in just 3 days, if the criteria are met – rather than 3 months, which because of the multiple parties involved and documentation required, is on average typically the case for cargo claims.
Commenting on the success of Fast Track Claims since its introduction last year, our Claims Manager, Marc Thomasson said “By adapting our cargo claims process and offering a quicker, simpler route to resolution – we can save our SME policyholders and their brokers valuable time and reduce cash flow issues that may result as a consequence of pending claims.
“We are encouraging brokers’ claims teams to make NMU policyholders aware of the Fast Track Claims facility as their first port of call for small cargo claim submissions; allowing them to get back to running their business as soon as possible after a loss.”
Fast Track Claims
NMU Cargo policyholders can submit claims of GBP2,500 or less (before application of any deductible) via Fast Track Claims.
For claims over GBP2,500 or relating to other classes of business, please contact our claims team in the usual way here.