At Old Republic Surety Company, the claims process is more than just a procedural necessity. It’s a critical function that protects our company’s integrity, supports our clients, and ensures compliance with legal and contractual obligations. Although every claim is unique and must be evaluated based on its specific facts and circumstances, here is a general overview of how we approach claims and the principles that guide our work.
Why Claims Matter
Claims are at the heart of what we do. They safeguard our financial and reputational interests and reflect our commitment to fairness and accountability. A well-managed claims process helps maintain trust with all stakeholders, including claimants, underwriters, obligees, agents and principals. It also supports internal departments such as underwriting, finance and agency services.
For example, underwriting relies on claims data to assess risk and set pricing. Finance depends on accurate claims handling for reserve management and timely payments. Agency services and underwriting benefit from smooth claims resolution to maintain strong relationships with partners and clients.
A Step-by-Step Look at the Claims Process
Even though each claim is different, all claims go through the following four stages:
- Claim Initiation
Claims are typically reported through various channels and reviewed by our team to gather initial details.
- Investigation and Analysis
This phase involves collecting facts, reviewing documentation and assessing our potential liability. We also evaluate indemnity and salvage options.
- Resolution Strategies
Depending on the situation, we may pursue negotiation and settlement or escalate to litigation or arbitration if necessary.
- Claim Closure and Follow-Up
Once resolved, we ensure all documentation is complete and any follow-up actions are addressed.
Claims handling benefits from collaboration. Our claims representatives and leadership work closely with both our internal and external partners to ensure a consultative and coordinated approach. This collaboration helps us resolve claims efficiently and fairly while also identifying opportunities for improvement.
Building on that foundation of collaboration, we take a thoughtful and deliberate approach to every claim. We believe that the way a claim is handled is just as important as the outcome. Our approach is grounded in thoughtful analysis, clear communication, and a steady hand, especially when tensions run high. We understand that claims often arise in moments of stress or uncertainty, and we strive to bring clarity and calm to the process.
Rather than rushing to conclusions, our goal is to understand the full context of each situation. This measured approach allows us to make informed decisions that are fair, consistent and aligned with our long-term relationships. It also helps us maintain trust with all parties involved, even when the path forward is complex.
To support this approach, we leverage a variety of tools and systems to manage claims. As we continue to modernize, platforms such as Box and Guidewire are being introduced to streamline workflows, improve accuracy and enhance customer service.
Of course, even with the right tools and mindset, claims handling presents its own set of challenges. One of the most significant is navigating the inherent tensions of the surety tripartite relationship. This relationship refers to the unique dynamic among the three parties in a surety arrangement: the surety, the principal, and the claimant/obligee. Often, the obligee or claimant expects actions from the surety that directly conflict with the interests of the principal.
These challenges can also include delays in receiving accurate information, disputes over liability or payment, and managing expectations. To address these, we invest in ongoing training, continually refine our processes, and use data to drive better decision-making. Cross-department collaboration also plays a key role in identifying pain points and implementing solutions.
Nothing said here should be interpreted as a definitive statement of our claims-handling practices or policies. Every claim is unique, and outcomes depend on the specific facts, documentation and circumstances involved. We evaluate each claim on its own merits, guided by applicable laws, contractual obligations, internal guidelines, and our collective decades of claim-handling experience.
