The summer of 2007 has seen unprecedented rainfall with two significant, slow moving, low pressure systems causing widespread flooding throughout northern and central Britain during June and July.

We are sure you have read the news stories and noted the statistics that followed these events and are no doubt aware of the ABI’s latest calculation of flood damage. £3bn of damage, 45,000 domestic homes and 15,000 commercial businesses effected.

We have seen much praise of the Insurance industry’s response to these events and are aware of the considerable efforts undertaken by Insurers and their Adjusters to assist policyholders at their time of need. Insurers and their Adjusters have been inundated with claims and the volume has at times been overwhelming (a bit like the rainfall!). Our experience this summer has been that whilst Insurers and their Adjusters have worked hard to satisfy the high demands placed upon them their response times have, understandably, been slower.

As you would expect, Lorega has also experienced a corresponding upsurge in claim volumes and many of our policyholders have required the support that Loss Recovery Insurance brings. Our response times to claims have, however, been maintained throughout this busy period with virtually all clients being contacted within our 24 hour service criteria.

Our policyholders have been grateful for our rapid response and in most cases our Adjusters have been the first insurance face to appear. By way of example, on our first 60 flood cases this June, Insurers Adjusters attended only 4 losses within a week of notification!

Our Adjusters have in the absence of an Insurer representative been able to provide from the outset vital re-assurance to worried policyholders. High levels of customer satisfaction have been achieved by Lorega Adjusters through prompt action, early management of expectation and proactive handling of a policy holder’s claim.

The benefits of early attendance have been highlighted this summer with Lorega Adjusters taking control of loss mitigation and activating business recovery strategies for policyholders. For commercial losses where business interruption policies are present Lorega Adjusters have been well placed to instigate action to reduce indemnity periods. This is an important factor for both policyholder and Insurer alike as our experience has shown that for every week that delay is incurred an additional 2 weeks can be added to the indemnity period.

So for Lorega, it has been an unprecedented, long wet summer but we are pleased to report “Business as usual”!

For our brokers it has meant exceptional customer service at a time when your clients really needed you. This will undoubtedly improve client retention and as many brokers have already seen, helped them win new business on the back of referrals.