Insurers Slash Rates For Reinstatement

In a recent article published in Recovery the British Damage Management Association (BDMA) publication it was stated that:

”There is no doubt that some insurers in the past tried to take a far too rigorous approach to managing claims costs which meant slashing the numbers of loss adjusters and damage management suppliers on panels – and paying rock bottom rates. However, sources suggest there has been a change of thinking.

Expensive solutions utilised during surge over the past few years, to overcome these cutbacks, include loss adjusters being flown in to perform basic work from countries such as the US and South Africa and sub-standard repairers used as insurers ran out of approved builders – working with too small a pool and attempting to pay too little for quality work fails the customer – and not least can raise the Ombudsman’s antennae.

Mr Davison adds: ” Cutting back on costs affects the customer. Of course we understand insurers need to contain the supply chain, but there has to be a balance. Insurers who think they are saving by having too aggressive a procurement strategy can find it backfires.’

”Delivering the claims promise is at the very heart of what insurance is about. The industry can talk all it wants about qualifications, excellence in underwriting and profitable business. Of course these are all enormously important, but to the customer, whether personal or commercial, what matters is that they are looked after, promptly, with a minimum of fuss. That means a fast agreement from the adjuster – and fulfillment from the damage management supplier.”

Public Loss Adjusters fully endorse the above statements and point out that it is time for insurance claims to be managed with the policy holders interests having a priority and the insurance companies delivering what the policy holder is entitled to and cost cutting should not be the primary objective.

If your property has been damaged and you need to make an insurance claim why not try our free loss adjusting service.

Call 08000 434 999 to try the Public Loss Adjusters Alternative


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