The claims handling consists of three phases: Overdue, Collection and Claim.
The Overdue phase starts with an imminent loss, if an invoice remains unpaid 60 days after the due date. From this moment on you have to stop your deliveries to the customer. New deliveries to this debtor are no longer insured from this moment on.
If an invoice remains unpaid after 90 days, the Collection phase starts. Mercury will then take over the collection from you. The execution of this is via Flanderijn, an important and strategic partner of Mercury. Flanderijn approaches your customer with respect and with respect of the relationship as a starting point.
The collection costs are covered within the insurance. You are therefore no longer liable for these costs, they are for the account of Mercury.
If the debt collection is successful, or if your customer (re)starts to pay, the coverage on the insurance will be resumed. From this moment on new deliveries are covered by the insurance.
If the collection procedure is unsuccessful and the invoice remains unpaid 180 days after the due date, the Claim phase starts. Mercury assesses the claim and the possible payment on the insurance, and arranges for the syndicate insurers to sign off the claim.
Claims will be paid within 30 days after the loss has been established.