Claims in a hard market – be warned

So, we have entered another hard insurance market. Obviously, this means reduced capacity and increased premiums but were you aware that insurers seem to scrutinise claims much more closely during such times.

I have seen many hard markets over my last thirty years when acting as an advocate for the claimant. It has not escaped my notice that during these times, the adjusters representing insurers seem to want a lot more information in support of the claim. Of course, it can be provided, but I have always thought that some insurers send out a diktat to their adjusters saying they should look closer for so-called claim “leakage”.

I could never prove it, as adjusters I asked directly would deny receiving any additional instructions from their principals. For the independent adjuster, this is all part of the job.

However, for the claimant It is very unfair, in that the claim cycle times can increase by up to a third before settlement. A claim that might normally take twelve weeks to settle can take another four weeks due to closer scrutiny.

Independent adjusters do a sterling job for the client during these times, but can be very expensive. Do remember to offer your clients a Qlaims insurance policy at renewal which cover all their fees and much, much more.

Malcolm Harvey
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