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Claims

We are here to support you every step of the way during your transaction and afterwards.

Complex risks require underwriters experienced with the claims process and a policy that is backed-up by robust Risk Capital. Brockwell’s underwriters have been providing and placing the insurance products we offer since 2004, which means that clients will experience a high-quality claims process with underwriters who are familiar with claims. Our business partner Beazley have award-winning, dedicated transactional risk claims expertise and will lead on claims on behalf of our other Risk Capital providers, which means clients will deal with a single, expert decision-maker.

We differentiate ourselves from our competitors by offering a joined-up approach between our underwriters and the claims team at Beazley. During the entire claim process a Brockwell underwriter will work extremely closely with the dedicated claims contact at Beazley and will be actively involved so that a resolution can be promptly reached. We understand that the risks we cover relate to investments and impact on fund returns and so we’ll move quickly to help put things right.

The creditworthiness of our Risk Capital, provided by large insurers (mainly from Lloyd’s, which is famous for meeting claims), also means that our clients can have faith that covered claims will be paid.

Notwithstanding the high-level information provided on this page, please refer to the terms of your policy for the precise details of the claims process including time periods for notification, etc.

How do I make a claim?

Please refer to the provisions of your policy. The key provisions will usually be at Clause A4.

Our policies are “claims made” policies. This means that a Brockwell policy responds to claims made by a policyholder during the policy period irrespective of when the loss arises. In accordance with the terms of the policy, claims are usually required to be notified before the end of the policy period.

Please e-mail claims@brockwellcapital.com to make a claim. Your policy will refer to the information required, please include this with your e-mail to ensure that we have all of the relevant information to expedite your claim.

What is the typical Brockwell claims process?

We will collaborate with our policyholders in order to bring about a fair outcome. The claims process will be punctual and transparent, with clear communication at each stage.

The key stages of a claim are as follows:

1. Knowledge

A relevant person becomes aware that a loss under the policy has arisen or could potentially arise (known as a “circumstance”).


2. Notice

According to the terms of the policy, notice is given to Brockwell and to Beazley. By notifying Brockwell and Beazley this expedites the claims handling process.

A senior Brockwell underwriter will be assigned to the claim to ensure a smooth process. We recommend that you also contact your advisers and/or insurance broker to assist with the process.

Following receipt of the notification, Beazley will liaise with all other insurers (to the extent necessary) and manage the claim accordingly.

To the extent possible, it is helpful to provide specific details in the notice as well as any available supporting documentation, but we appreciate that the policyholder may not yet have all of the desired information.


3. Investigation

The dedicated claims handler will investigate the claim and may need to request further information from the policyholder. Your advisers and/or insurance broker may be able to assist in this respect.

In our experience a claims handler’s ability to reach a coverage position can be affected by the availability of information and so it is important to provide as much available information as possible. This should include the nature of the claim and how it arose, supporting evidence (if relevant), reference to any relevant contractual provisions (e.g. warranties in an SPA), and a calculation of loss.

Where a claim (e.g. under a W&I policy) relates to a loss of value in an investment, it is important to provide evidence (e.g. any investment model) to support the claim so that a determination of quantum can be reached by the claims handler.


4. Coverage Position

The Beazley claims handler will issue a determination of coverage, together with an explanation of their position.


5. Resolution

A covered claim will be settled by the insurers.

Each claim is unique and so it is not possible to estimate the time it takes to reach a resolution, but we will proactively work towards reaching a resolution. For example, where a claim relates to tax the timetable may be driven by the level of engagement from the relevant tax authority and the requirements of their audit process.

Will I be dealing with multiple counterparties?

No. A single, expert claims handler from Beazley will be appointed to lead the claim, who will be responsible for decision-making in respect of the matter.

All claims will be handled in accordance with the Lloyd’s Claims Scheme. Further details of the Scheme can be found here.

Beazley will act as lead insurer and, for all ‘complex’ claims, Chaucer will act as second lead insurer with a Beazley claims handler taking the lead. Both Beazley and Chaucer have dedicated, market-leading claims teams, underpinned by award-winning claims handlers. They specialise in dealing with complex and multi-jurisdictional disputes. The other Risk Capital providers will follow the leader.

Why choose Brockwell?

Clients with a Brockwell policy have the benefit of an experienced counterparty that offers a premium service and a policy backed-up by robust Risk Capital enabling swift settlement of all covered claims. Our Risk Capital providers have the balance sheet strength to settle all valid claims and our Lloyd’s capacity is protected by the ‘central fund’ – click here for more details.

Brockwell is structured as a Lloyd’s consortium which embeds us in the Lloyd’s market and streamlines any interaction with our Risk Capital providers in the event of a claim.

Claims will be handled by Beazley who are a reputable and long-established transactional risk insurance provider with an award-winning claims team who have the internal expertise to handle claims relating to a Brockwell policy.

Brockwell’s long-standing relationship with our Risk Capital providers means that we can ensure a smooth and transparent claims handling process. We are confident that our market-leading experience combined with Beazley’s expert claims team will deliver fair results for our policyholders

What is Brockwell’s claims history like?

We respect our clients’ confidentiality and so we do not openly share details about claims, but we have received and settled numerous claims.

As Brockwell is a chosen insurer for institutional investors and funds, we are aware of the impact that publishing specific information about difficult investments may have, as well as potential reputational risk for asset managers (e.g. in relation to tax liabilities), and knock-on effects for raising funds from investors.

Please see our Case Studies for redacted examples. If you recognise a case study and would like us to remove it from our website, please Contact Us.

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