It is always best to appoint your own Independent Loss Assessor, the person appointed to deal with your claim is whats called a Loss Adjuster, he/she will be employed by the insurance company to deal with your claim and bear in mind they are being employed by and paid by the insurance company. The loss adjusters are also trained professionals in negotiating of claims and do this for a living. In order to get your full entitlement you should have a professional on your side.
If the Assessor is charging you a fee it will be worthwhile paying as at least you will know that you got a fair deal.
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It is not true that it is always best to appoint your own Loss Assessor. In some cases Assessors can be of benefit to the policyholder but it is simply too much of a generalisation to suggest that it is always better to appoint a Loss Assessor.
The vast majority of property insurance claims are settled based upon quotations from contactors and suppliers and in these instances, the policyholder does obtain a fair and reasonable settlement under the terms and conditions of the policy.
I would suggest that the original poster speak to the Loss Adjuster concerned, satisfy themselves that the Loss Adjuster is fair and reasonable in the calculation of the loss, and if they feel they are not getting a fair deal, then they may consider appointing a loss assessor. They should also realise that appointing their own loss assessor does NOT mean that they will get a better settlement, but, that they will have to pay the assessor from whatever settlement that they obtain...normally, 10% of the settlement figure plus VAT at 21.5%.
As an Assessor surprisingly I would agree with your comments.
I would point out that the adjuster is appointed to represent the Insurers interest only.
In a number of cases that I have dealt with after an adjuster had already been to see the damage and advised the insured what they would get I advised the insured to decline the proposed settlement and we subsequently settled the claim at a higher figure.
On other cases where I have visited the damaged property and the proposed settlement was in order I have recomended acceptance to the insured(in those cases I do not charge a fee as apart from visiting the property I have not carried out any work)
I would have to agree with the two previous posts. A properly qualified and regulated assessor can be of real benefit if the process of an insurance claim baffles you or if you simply don't have the time to handle the claim yourself. The key issue here would be that make sure they are regulated and qualified. A decent amount of assessing companies out there have no regulatory status and don't employ qualified staff. In saying that, I think the perception is put out there that the claim process is like a courtroom battle involving legal arguments etc, the reality is in most cases you simply report the claim, meet the adjuster at your house at a time that suits, get a builder's quote for the repairs, send it into them and they come back with a settlement figure. You then run this by your builder, if he says he can do the work for that, job done, if not then get one who will. In the current market, builders are knocking down doors for work so there should be no problem getting him to do it for the offer made providing that it is actually a fair one. If not, then appoint an assessor to see if he can do better for you. I would also advise you to stay away from companies who provide an all in one service, i.e. handle the claim and do the repairs, you are much better off getting a cheque and choosing your own builder who you know or has been recommended.
This all makes sense. However, what doesnt make sense to me is that some assessors have no insurance knowledge or insurance qualifications yet undertake to interpret the rights, remedies and entitlements of an insurance policy on behalf of a policyholder.
I wouldnt ask an unqualified pharmacist to dispense drugs to me, nor indeed would i ask a bar room lawyer to represent me in court. Yet, policyholders are asking unqualified assessors and builders to represent them against highly skilled trained competent Loss Adjusters.
I believe that the best advice that these unqualified builders and assessors can give to a policyholder who needs an Assessor, is to obtain the services of somebody who actually holds an appropriate insurance qualification who is competent to act on their behalf.
Have a look at the financial regulators website and look at the section Consumer protection code sub section qualifications.
It would appear on the face of it that a qualification as a QS may not be considered as acceptable.
Being involved in the decision-making process in relation to claims or assisting consumers in the administration or performance of claims arising under contracts of general insurance
General Insurance Policies
- Associate or Fellow of the Chartered Institute of Loss Adjusters
- Solicitor Member of the Law Society of Ireland
- Barrister-at-Law called to the Bar of Ireland
- Diploma in Loss Adjusting (the Insurance Institute of Ireland, approved 8 November 2007)
Cut and pasted above is the minimum requirement to act as an Assessor..or an adjuster for that matter....Ed054, how many Assessors out there have these would you think? I would suggest very very few. It is ludricious that many assessors get regulated when they havnt a clue about insurance policies. As a matter of interest, why do properly qualified and reputable Loss Assessors not make representations to the regulator about them granting regulation to unqualified people who clearly are in breach of the minimum level of competency? Loss Assessing has very very little credibility as it is, but it does amaze me that the very few credible Assessors out there seem to do nothing to protect and try to repair the tiny embers of integrity and credibily that property Insurance Loss Assessing has. Why have ye not set up a professional body with codes of conduct etc? These may seem damning comments, but i am fully satisfied that it is fair comment.
- Certified Insurance Practioner (the Insurance Institute of Ireland and the Irish Brokers Association)
- Qualified Financial Adviser plus Bridge Examination in General Insurance Policies (Institute of Bankers in Ireland, LIA and the Insurance Institute of Ireland)
- Associate or Fellow of the Chartered Insurance Institute
- Diploma in Private Medical Insurance (the Insurance Institute of Ireland, approved 22 January 2009)