Architects offered their own loss adjustor to negotiate insurance claims
DAS, a leading provider of legal expenses protection for Architects, has launched Loss Assist to level the playing field by giving Architects their own loss adjustor to process their side of the claim should a major event such as a fire or flood occur.
Events such as these are covered under business interruption and material damage insurance policies and, in the event of a claim under these policies, insurance companies will appoint their own loss adjustors to assess the damage and extent of the claim from their perspective.
Loss Assist gives Architects the support of a dedicated loss adjustor within 24hrs of reporting a claim, right through to settlement by their insurer.
The advantages for Architects with Loss Assist:
• A 24 hour loss adjustor response 365 days a year
• Claims submission, negotiation and administration
• On-site assessment for claims over £5,000 and telephone for claims under £5,000
• Up to £100,000 in expert fees to support a claim
• Assistance with correspondence
Richard Harris, head of claims at DAS, commented: “Major losses can be very damaging to any business and are often complex and difficult to prepare, manage and negotiate while at the same time continuing to maintain as normal a business operation as possible. Our new product takes a lot of this burden away by providing high quality, professional support throughout the entire claim process.
“This allows Architects to concentrate on what they know best, namely running their business. It is also not about pointing the finger at an insurer and saying ‘you’re not doing a good job’, however, issues can arise and failings can occur and I would, therefore, always advise Architects to consider the added protection it provides.”
The policy usually costs around 5% of the existing commercial insurance premium and can be arranged by the Architect’s existing broker.
The advantages of DAS Loss Assist Insurance include:
• 24 hour Loss Adjustor response
• £100,000 cover for professional fees
• Highly qualified special panel of adjustors and other professionals
• Covers material damage claims (typically) over £5,000 with no upper limit on the size of the underlying claim
• Full support to prepare, negotiate and settle the claim on behalf of the client
• Immediate access to the product for all existing DAS brokers and insurers
• 24hr legal advice
• Full onsite assessment, claims submission, negotiation and administration for material damage and business interruption claims over £5,000
• £100,000 limit of indemnity on fees per event
• Includes subsidence claims
• Coverage over whole of UK, including Channel Islands and Isle of Man
• On-line quotation and policy issuance system
Loss adjustor services
• Initial contact with the client within hours and attending the site of the loss within 24 hours where required.
• Establish the extent of the claim
• Liaise with the underlying insurer’s representatives and working closely with the broker.
• Attending all meetings with insurers and handle all correspondence.
• Assist with the preparation of paperwork including itemised schedules and valuations of all damaged or destroyed contents.
• Examine the damage to insured buildings by engineers, architects, surveyors or contractors and the claims assessment for the insurer.
• Assistance with preparing complex business interruption claims
• Arranging interim payments from the insurer and organize temporary premises and equipment as required.
• remove or consider replacing it with overseeing of the project management of the remedial works
• Personal injury
• Public, product, employers’ liability
• Motor, aviation or marine
• Cover will be subject to the premium being paid, and notification within 30 days of the incident. The underlying policy must be valid and enforceable.
DAS has been a pioneer of the legal expenses insurance market since the concept was first introduced to the UK in 1975. The Group provides protection against unforeseen legal costs to millions of families and motorists, and hundreds of thousands of businesses every year, offering both before-the-event and after-the-event products and a range of telephone advice and assistance services, including the flagship legal advice service.
DAS is an authorised and regulated insurance company.
Based in Bristol, with offices in London, Manchester and Bedwas, South Wales, as well as subsidiaries in Arundel, Dublin and Toronto, DAS employs more than 600 staff and has become one of the UK’s leading specialist insurers.