Over the past year we have seen a dramatic increase in repudiated and delayed claims – strong evidence that insurers’ attitudes are hardening.
We are finding that even in straightforward cases there can be serious delays in accepting policy liability. This causes frustration and uncertainty as well as the obvious financial issues resulting from an interruption to cash flow.
It is for this reason we are now working closely with Lorega, who in return for a modest cost have a Scheme that provides you with a full insurance claims handling service to ensure you receive the best help available when you suffer a major loss.
In the event of a claim, if you have this cover Lorega will arrange for immediate involvement of a local claims specialist who will visit you to advise on the best approach to your claim, your specialist will then prepare your claim(s) and negotiate for the best possible settlement to which you are entitled. The cover arranged will provide you with assistance in most likely losses.
Why should you need to have claims prepared professionally?
In recent years claims have become more technical and due to the increase in fraudulent claims, Insurers’ attitudes have hardened considerably. Nowadays Insurers will invariably call in their own specialist Loss Adjuster to value the loss.
As your Broker we will assist in sorting out your claims but sadly Insurers will no longer pay on word of mouth alone – a claim must be professionally valued and proven. Loss Recovery insurance provides you with a team of claims experts, surveyors and forensic accountants. These specialists will work with us to value and successfully negotiate your claim.
There is no change on how you would report a claim to us, as now, all you do is ring us following any loss and should you need the service we will arrange for the relevant experts to contact you.
Key benefits of the cover
(this cover is for Material Damage & Business Interruption Claims)
- Telephone advice and assistance for all claims
- Personal visits on all major losses
- Cover for both material damage and business interruption claims
- Arranging interim payments from Insurers where necessary
- Arranging temporary premises and equipment to enable trade to continue
- Preparation of a fully valued inventory for all items damaged or stolen
- The specialists attend all meetings and handle all correspondence with Insurers
- Co-ordination of builders, surveyors, decorators etc
- Working in conjunction with your own accountants to formulate any loss of profits claim
- Negotiation of the best possible settlement(s) to which you are entitled