Loss Assessors are independent Insurance Claim experts who can take the stress away by handling your claim for you. They work exclusively for you the policyholder, and only you. Using their expertise, knowledge and skills Loss Assessors will aim to get everything you are entitled to under your policy. It is important to engage a Loss Assessor as early as possible so they can ensure the entire process proceeds in the correct manner and your claim is not prejudiced negatively.
Loss Assessors and their team will take all the stress involved in an Insurance Claim. Furthermore they can conduct meetings and handle all communications with the Insurance Company on your behalf. Loss Assessors are able to effectively use an approach that Insurers understand. They can handle all aspects of the Insurance Claim including for Residential and Commercial claims. Both are handled very different and need to be approached in a different manner.
Loss Assessors will often hire external professional assistance if a claim becomes complicated. Noteworthy forensic teams can often be called for to assist in protecting your position in parallel to Insurers own specialists doing the same for them.
Examples of how Loss Assessors will assist are:
- Compiling an inventory of contents
- Quantifying and managing buildings reinstatement
- Preparing and presenting the claim particulars
- Organising alternative accommodation and furniture hire
- Compiling a list of stock, machinery and plant damage
- Quantifying and presenting the buildings damage reinstatement
- Calculating Business Interruption & financial loss
- Organising interim and emergency payments
The Insurance Company’s Loss Adjuster:
After you have notified your Insurance Company of the incident. Insurance Companies will send in there own professional – a Loss Adjuster. It might seem like they are there to help. But they are employed and paid for by the Insurance Companies to protect Insurers interests.
Their only role is to limit the Insurance company’s exposure to cost and investigate the cause of the incident. Additionally they may interview you and find any possible non-compliance with the policy which might be used to deny the claim. In these scenarios If you say the wrong thing you risk jeopardising your claim. As a result your Insurer can repudiate the claim and you could receive nothing.
The Loss Adjuster will look for any vulnerabilities or inconsistencies in the claim circumstances that will allow them to refuse a claim on technical grounds.
Difference between Loss Assessors and Loss Adjuster
Although Loss Assessors and Loss Adjusters are both Insurance Claim Professionals and sound quite similar, they sit on opposite sides of the fence.
So what is the difference?
Well, Loss Assessors are exclusively there to help you and stand shoulder to shoulder with you the policyholder to get everything you are entitled to. They are your Professionals in the claim process.
Loss Adjusters are the opposite party in the claim process. They are there to protect insurers financial liability for the claim, seeking for ways to to pay out the minimum settlement or even refuse the claim entirely which is called a a repudiation.
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