Claims Procedure

Immediately after any loss incident or an occurrence has happened, it’s very important to reduce or mitigate any further damage. This may include temporarily covering broken windows, stopping the source of a water leak, contacting the local professionals pertinent to the loss, etc. Next, collect all relevant information by making a list, taking pictures or videos and save all your repair expenses and emergency costs.

The next step is to contact your insurance agent so they can timely file a claim with your general liability policy insurer, property insurer, directors and officers’ policy, or whichever policy you currently have (your “primary policies”). If your claims are denied by your primary policies, please follow the below process.

Claims Submission Process:

If you submit a claim to BOLD, the following are necessary:

1. A coverage denial letter from both GL and D&O insurers denying or excluding coverage for a lawsuit triggers a potential “Claim” as defined in the BOLD policy.
2. Reporting form with a brief description as sent to an indemnity carrier.
3. Correspondence including the first notice of loss.
4. Copy of the filed lawsuit –The lawsuit and the denial letter make up the “Claim” provided the loss occurred during the policy continuously in force from the loss to the claim dates.
5. Submit the BOLD claim to claims@boldlegalplans.com

Things to keep in mind:

1. BOLD is a legal liability company, and BOLD does not provide indemnity coverage to the insured or any claimant.
2. The BOLD policy has limitations and exclusions. We only pay the “Plan Attorney” and certain expenses set forth in your policy.
3. BOLD provides the insured with a “Plan Attorney” to defend the insured when they are sued, and coverage is denied or excluded from their insurance policies

Remember, if a lawsuit has been filed against you, the law requires a formal response to be filed with the court, usually within 20 days. Until you are appointed an attorney by an insurance company, you should privately engage an attorney to prevent the court from entering a default against you. Often, the claims process takes more than 20 days, and you must protect yourself. A “default” means that you may automatically lose the case, unless it is set aside later, which is never guaranteed.