What we do
Claims
Please send any claims to claims@alpha-tr.com, uknewnotices@axaxl.com, and internationalM&A@axaxl.com. Please carefully follow any other instructions contained in your policy.
Alpha TR is very experienced dealing with claims and notifications. We expect notifications on 15-20% of the policies we issue across our W&I, Tax and Contingent risk policies. We are here to help our risk capital providers and policyholders.
AXA XL
Whilst the lead project underwriter at Alpha will assist with any claims process, ultimate claims authority resides with AXA XL which has assigned a dedicated transactional risk claims handler to Alpha.
AXA XL have offered transactional risk insurance for more than a decade and are very experienced handling transactional risk claims.
AXA XL delivers "uncompromisingly high levels of service" and for the last four consecutive years has been ranked "outstanding" for service quality in the Gracechurch Report (an independent claims benchmarking report). More information is available on the AXA XL claims page.
Lloyd's of London
Lloyd's has a proven track record in both ability and willingness to settle valid claims. Lloyd's was founded in 1688 and has a long-established reputation for paying valid claims. Lloyd's is focused on enhancing customer experience, and providing an excellent claims service to policyholders remains a cornerstone of the market's business. The Lloyd's Claims Scheme is obligatory for all syndicates and is a set of rules designed to streamline the claims agreement process.
Lloyd's offers a formal complaints and arbitration process which is designed to improve transparency.
Lloyd's unique capital structure (known as the 'Chain of Security') includes a >£3bn Central Fund and provides excellent financial security to policyholders. The Central Fund is available at the discretion of the Council of Lloyd's to meet any valid claim that cannot be met by the resources of a Lloyd's syndicate. Further details are on the Lloyd's capital structure page.
Lloyd's risk capital benefits from strength, security, service, and standards (see the Lloyd's standard) and in particular:
We do things differently.
The Lloyd's market offers the best experience for our customers, with a claims service that has your interests at heart.
Quite simply, Lloyd's has built its global reputation by upholding its promise to pay all valid claims for more than three centuries. It's what sets Lloyd's apart, and it's done by providing unparalleled security, global strength, exceptional service and world-class expertise for customers globally.
We call it the Lloyd's standard.
Source: the Lloyd's standard
What are the claims process steps?
Please refer to the terms of your policy which supersede the high-level information contained in this website. The key stages are:
- Discovery: A person becomes aware that a potential loss under the policy exists. This is known as a 'circumstance'.
- Notification: Notice is given of the discovery in accordance with the terms of the policy. We recommend that notice is given as soon as possible following discovery, to claims@alpha-tr.com. Notification initiates the claims handling process — a senior Alpha TR underwriter (usually the individual who underwrote the project) will be assigned to work with AXA XL's transactional risk claims team, who will liaise with the other insurers as required. Alpha TR recommends that you engage advisers to assist you with the claims process; it is helpful to provide detail and underlying documentation, e.g. the nature of the claim, how it arose, supporting evidence, reference to relevant policy provisions, and calculation of loss. Where loss relates to a diminution of share value, evidence such as the investment model should be provided to assist with verifying the loss claimed.
- Investigation: AXA XL will review the claim and may request further information. Investigation will remain open pending the outcome of any wider processes which affect the claim, for example a tax authority audit or litigation with a supplier.
- Coverage: Once AXA XL are able they will issue a determination of the coverage position under the policy together with an explanation for their conclusion.
- Resolution: If the claim is covered then it will be settled in accordance with the terms of the policy. Whilst AXA XL and Alpha TR will proactively work towards reaching a resolution, given the complex underlying subject matters and the involvement of third parties it is rarely possible to estimate how long it will take to reach a resolution.