If your business was involved in significant property loss, usually in excess of £5,000, your insurer will appoint a loss adjuster to manage the claim. Put simply, these loss adjustors are appointed by and work for your insurer, so they usually operate in the insurers best interest.

Loss Recovery insurance provides and pays for the cost of an expert loss adjustor, usually authorised by the FCA, to help your business prepare, negotiate and settle material damage and business interruption claims. 

It is recommended for a Loss Recovery policy to be taken out for all premises risks, so your business has the peace of mind that you’re in capable hands, with a loss adjustor working on your behalf, allowing you to concentrate on other important aspects of your business. Lorega Loss Recovery, our chosen provider, will be able to assist you with the following, in the event of a property claim:

• Provide loss mitigation advice and assistance, to minimise your loss and ensure a quick return to normal operations
• Identify the damage your business has suffered, both physical and financial
• Preparation of your claim, submitting to your insurance company once agreed by you, negotiating the best possible settlement and outcome
• Reduce financial exposures caused by cash flow, by requesting regular interim payments from your insurer

Most Loss Recovery insurance policies will have a minimum claim amount of around £5,000, therefore it is generally designed for more substantial property claims. Should you wish to know more, or would like for Integrum to review your insurance needs, please get in touch or complete our contact form for a member of our team to contact you.