Insurance Seminar : ALARM South East 29th January 2008

GAB Robins UK Limited

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Introductions

Mark Pierce (FCILA , ACII , CIP , FUEDI ELAE , IFAA , MIRM)

Corporate Account & Property Owners

Director

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Agenda

What is a Loss Adjuster and what is a Loss Assessor ?

Business Continuity and Disaster Plans Natural Catastrophes – The Insurance Angle Advantages of Using Loss Adjusters Questions

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What is a Loss Adjuster and what is a Loss Assessor ?

Loss Adjuster

Represents Insurer There to see a fair indemnity

in line with the policy cover Earns flat fee based on final

settlement sum or band value FSA compliant Represented by Chartered

Institute Access to wide range of

specialists Subrogation - Has a

responsibility to try and recover insurer’s outlay

Loss Assessor

Represents claimant There to get best settlement

possible for claimant Earns a fixed % of the final

agreed figure Not all are FSA compliant Trade organisations are not

chartered Limited access to specialists Unless any Uninsured Losses

has NO interest in subrogation

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Business Continuity and Disaster Plans

For some the clue is in the title …..

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Business Continuity and Disaster Plans

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Business Continuity and Disaster Plans – A ‘text book’ view.

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Business Continuity and Disaster Plans – A Loss Adjusters view.

Don’t be too hard - The perfect plan has not been written because nobody could dream up all the scenarios

The best plans are written and then appraised by a team on a regular basis

The worst plans are written and forgotten Keep testing and improving at all times Keep all the databases and contact information

up to date. Test your suppliers Find your critical weakness – every plan has one

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Natural Catastrophes – Flood, Storm, Earthquake

The Loss Adjuster’s Role

The ‘Plate Spinner’ !!

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Natural Catastrophes – Flood, Storm, Earthquake

The Loss Adjuster’s Role

To mobilise field force operatives within 1 hour Make contact with claimants in accordance with SLA’s Inspect , review , agree next steps , reserve and

report Liaise with stakeholders from ‘Day One’

Remembering that different stakeholders have different agendas !!

Claimant Occupier (not always the claimant) Surveyors, engineers and architects Suppliers & Contractors Insurer Government agencies – including English Heritage , Environmental Health, DEFRA

etc

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Natural Catastrophes – Flood, Storm, Earthquake

New repair methodologies Future protection ? Equipment and machinery

Perennial Issues Broken promises ! Implementation of BCP or

DRP Emergency locations Alternative premises Consequential losses Access and transport Availability of own resources What are the supply chain

able to deliver ? Benchmarking ‘by word of

mouth’

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Natural Catastrophes – Flood, Storm, EarthquakeLessons To Be Learned

Communication is king Do NOT totally rely on the BCP

– let common sense prevail Drying out takes a lot longer

than you think There is an emotional cost

that should not be overlooked Alternative accommodation

has it’s drawbacks Costs - the economic market

really kicks in – supply vs demand

Contractor networks have limited capacity

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Advantages of Using Loss Adjusters

Experience On nominations pre-

existing knowledge of your BCP or DRP

Access to supplier networks

Single point of contact Uniformed approach Consistent communications Control of costs of repair Speed to settle improves

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Advantages of Using Loss Adjusters

And, of course, hopefully happier stakeholders all

round !!!

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Can GAB Robins help you?

Questions ?