Everyone has probably heard the idiom, “Don’t take no for an answer.” This phrase can be traced back to a 1930 quote from Winston Churchill. It has been used countless times since in boardrooms, sales calls, and casting rooms. And yes… wait for it… it also applies in the field of insurance.

I continue to be amazed by prospective clients who take “no” for an answer. I am often told that an individual or association previously submitted a claim for hundreds of thousands of dollars, and sometimes millions, only to be told “no” by the insurance company. Sometimes the “no” comes from an insurance broker or agent who counsels an insured not to pursue a claim in the first instance. Often times, the insured takes “no” for an answer. In the case of the insurance carrier, it is worth noting that the person that is saying no is the same person who will be paying millions of dollars if the answer is yes. Despite the self-interest involved in the insurance company’s initial decision, insureds often don’t seek a second opinion from someone versed in insurance. This is a mistake.

I have recovered significant sums for clients who were previously told no by their insurer. I’ve also had to break the bad news to prospective clients that they missed out on millions of dollars because they accepted the no and waited too long to get a second opinion. My advice is to involve someone familiar with insurance before making a claim. If that isn’t possible, at least perform due diligence and get a second opinion when an insurer denies a claim or a broker tells you not to file.

I know I’ve given this advice before, but I’ll continue to do so. It is hard for me to take no for an answer…