Successfully negotiating claims since 1867
Leading independent loss adjusters Thompson & Bryan has voiced its support for a reduction in the amount of supporting documentation required by insurers for business interruption claims.
This follows on from the Chartered Institute of Loss Adjusters’ view that the volume and focus of supporting documentation for BI claims can be excessive and have a significant effect on how quickly a claim proceeds.
Paul Lawrence, Managing Director, Thompson & Bryan, says: “It’s a problem that we come across all too often. Some of the Document Request Lists issued by the insurers can be lengthy, misinterpreted and have unrealistic deadlines, making policyholders nervous about their failure to meet these deadlines whilst trying to prioritise the mitigation and recovery of the business.
“Clients can spend huge amounts of time delivering documentation that often has no bearing on the loss. Data needs to be delivered with an explanation as to how it bears any relationship and impact on the claim that has occurred.”
He says the having someone expert representing the client such as a chartered loss adjuster is often invaluable. “They are able to spend the time with the client’s accountant or in-house team preparing interim claims during the stages of interruption and recovery is critical.
“This help can often be the difference between a successful outcome as opposed to the business failing with cash flow problems encountered due to the client not understanding what is expected and how to present a claim following a loss. “
Thompson & Bryan provide loss adjusting support for the DAS Loss Assist Scheme.
For more information contact Paul Lawrence, Managing Director Office: 020 8446 6662 Mobile: 07941 111 920