Circular No. 3/96 - Notification of Claims
March 27, 1996
Members and Brokers
Circular No. 3/96
Notification of Claims
As you know, it is of paramount importance to maintaining the predictability of insurance cost that potential claims on the Club are notified to the Managers as soon as possible. Indeed, the Club's policy conditions establish this requirement as a fundamental principle upon which the cover is based.
The purpose of this note is simply to remind our members and their brokers of this important dimension to Club cover and to request that they remain conscious of the need to fulfill their obligations to the Club in this way.
There are inevitably occasions when it proves difficult to have known in advance of circumstances which may subsequently lead to a claim on the Club of which it had not previously had notification. However, it is hoped that these circumstances will be rare and that attention to the chief imperative mentioned above will ensure that uncertainties in regard to members' claims costs will be reduced to the minimum possible.
The attention of all members and their brokers to this important issue will be much appreciated as The American Club continues to build its financial and service strength, and its ability to provide the best P&I option to both current and prospective members.
Joseph E.M. Hughes