One often overlooked role of a risk manager is that of setting a corporate claim policy. Such a document is a written expression of a company’s approach to handling and resolving claims. This is the rudder steering a company and its service providers in addressing demands for money damages asserted against the entity.

An initial decision point is deciding whom to involve in formulating a corporate claim policy. Clearly, all key claim process stakeholders have a role. The authorship team might include the following:

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