Lorega loss Recovery Insurance

For Commercial property claims in excess of £5,000 Domestic property claims in excess of £2,500.

With insurers under increasing pressure to protect their underwriting result and profitability they are increasing their focus on controlling claims costs. To achieve this insurers use experts such as loss adjusters. It is a long held misconception that these specialists only work for the insurance companies that retain them. However, that is not actually the case.

Most independent Chartered Loss Adjusters will charge a set fee, an hourly rate or an agreed percentage of the overall settlement received. However, in return for a modest cost we have available a Scheme which provides you with a full insurance claims handling service by a qualified Loss Adjuster to ensure you receive the best help available when you suffer a major loss.

Should you take out this cover, we will arrange in the event of a claim for immediate involvement of a local claims specialist who will visit you to advise on the best approach to your claim. Your specialist will then prepare your claim and negotiate for the best possible settlement to which you are entitled.

Why should you need to have claims prepared professionally?

As your Broker we will assist in sorting out your claims but sadly Insurers will no longer pay on word of mouth alone – a claim must be professionally valued and proven. Loss recovery insurance provides you with a team of claims experts, surveyors and forensic accountants to help do just that.

Key benefits of the cover:

• Telephone advice and assistance for all claims
• Personal visits on qualifying losses
• Arranging interim payments from Insurers where necessary
• Cover for both material damage and business interruption claims
• Arranging temporary premises and equipment to enable trade to continue or alternative accommodation for you and your family.
• Preparation of a fully valued inventory for all items damaged or stolen
• The specialists attend all meetings and handle all correspondence with Insurers
• Co-ordination of builders, surveyors, decorators, etc.
• Working on conjunction with your own accountants to formulate any loss of profits claim
• Negotiation of the best possible settlement(s) to which you are entitled

 Exclusions:

• Claims under the policy excess
• Personal injury claims
• Liability claims
• Motor, aviation and marine claims
• Subsidence claimsLosses incurred outside mainland UK
• Third Party Claims

 LOREGA is authorised and regulated by the Financial Services Authority.