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2
Introductions
Mark Pierce (FCILA , ACII , CIP , FUEDI ELAE , IFAA , MIRM)
Corporate Account & Property Owners
Director
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Agenda
What is a Loss Adjuster and what is a Loss Assessor ?
Business Continuity and Disaster Plans Natural Catastrophes – The Insurance Angle Advantages of Using Loss Adjusters Questions
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What is a Loss Adjuster and what is a Loss Assessor ?
Loss Adjuster
Represents Insurer There to see a fair indemnity
in line with the policy cover Earns flat fee based on final
settlement sum or band value FSA compliant Represented by Chartered
Institute Access to wide range of
specialists Subrogation - Has a
responsibility to try and recover insurer’s outlay
Loss Assessor
Represents claimant There to get best settlement
possible for claimant Earns a fixed % of the final
agreed figure Not all are FSA compliant Trade organisations are not
chartered Limited access to specialists Unless any Uninsured Losses
has NO interest in subrogation
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Business Continuity and Disaster Plans – A Loss Adjusters view.
Don’t be too hard - The perfect plan has not been written because nobody could dream up all the scenarios
The best plans are written and then appraised by a team on a regular basis
The worst plans are written and forgotten Keep testing and improving at all times Keep all the databases and contact information
up to date. Test your suppliers Find your critical weakness – every plan has one
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Natural Catastrophes – Flood, Storm, Earthquake
The Loss Adjuster’s Role
To mobilise field force operatives within 1 hour Make contact with claimants in accordance with SLA’s Inspect , review , agree next steps , reserve and
report Liaise with stakeholders from ‘Day One’
Remembering that different stakeholders have different agendas !!
Claimant Occupier (not always the claimant) Surveyors, engineers and architects Suppliers & Contractors Insurer Government agencies – including English Heritage , Environmental Health, DEFRA
etc
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Natural Catastrophes – Flood, Storm, Earthquake
New repair methodologies Future protection ? Equipment and machinery
Perennial Issues Broken promises ! Implementation of BCP or
DRP Emergency locations Alternative premises Consequential losses Access and transport Availability of own resources What are the supply chain
able to deliver ? Benchmarking ‘by word of
mouth’
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Natural Catastrophes – Flood, Storm, EarthquakeLessons To Be Learned
Communication is king Do NOT totally rely on the BCP
– let common sense prevail Drying out takes a lot longer
than you think There is an emotional cost
that should not be overlooked Alternative accommodation
has it’s drawbacks Costs - the economic market
really kicks in – supply vs demand
Contractor networks have limited capacity
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Advantages of Using Loss Adjusters
Experience On nominations pre-
existing knowledge of your BCP or DRP
Access to supplier networks
Single point of contact Uniformed approach Consistent communications Control of costs of repair Speed to settle improves
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