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Lorega launches building surveying service to streamline property claims reinstatement process

Lorega launches building surveying service to streamline property claims reinstatement process

Press Release: Introducing Lorega Surveying Services

Lorega Limited (Lorega) continues to broaden its policyholder services with the launch of a dedicated building surveying service – designed to help policyholders to manage property reinstatement in the event of a claim.

Most home and business property insurance will include the cost of surveyors’ and engineers’ fees needed to restore or replace property in the event of fire or other damage. Usually the policyholder is left with the problem of identifying and appointing the professionals needed to oversee and administer the work.

Lorega’s new Surveying Services will be managed by Lorega Solutions Limited, Lorega’s Chartered Loss Adjusting company, to provide the policyholder with access to expert Chartered Surveyors, with the necessary experience and expertise to help the policyholder through the process. The Surveyor will work alongside the Chartered Loss Adjuster appointed by Lorega, on behalf of the policyholder, to prepare and present the claim by obtaining quotes for building work, and then managing the reinstatement process.

Offering access to professional surveying support at the outset of the claims process removes the burden from claimants to source quotes and find a suitably experienced surveyor to manage reinstatement. The launch of Lorega Building Surveying Services enhances our suite of Expert Services for policyholders and demonstrates our overall commitment to providing expert help to minimise the impact, costs and disruption of a property damage claim. Angus Tucker

Managing Director, Lorega Solutions

Customer feedback

“From the start, Lorega offered me total reassurance"

"Thank you, you were a great help and made sure I claimed for everything I was entitled to. Could not have done it without you”

“Your support and input was excellent”

Brokers vote Lorega number one for commercial lines service

We’re delighted to announce that, for the second year running, we have been voted number one for broker satisfaction in commercial lines, in the annual Insurance Times Broker Service Survey – ahead of the industry’s larger insurance brands.

This is a tremendous honour and we are very grateful for all of you who took the time to respond to the survey.  To maintain the position for a second year makes us even more determined to enhance the level of service we provide.

In the last year we have continued to build on the service we provide to you and your clients with:

  • further enhancements to our award winning online trading system, including a 24/7 FNOL claims service and improved visibility of branch performance
  • automated, real time online finance features
  • introduction of the REG TOBA system to improve the efficiency of binder management
  • free training and technical updates using webinars and other material
  • the launch of new assistance products, including Cyber Recovery and HSE Recovery

The results of our own customer satisfaction surveys following a claim show that over 92% of all respondents are delighted with the level of service Lorega provides and would recommend it to others.

If  you would like any more information about any of our products or how to work with us in the future, please feel free to contact us here.

To find out more about the award, read the interview with Neill Johnstone in the Insurance Times.

New survey shows insurer’s claims service still lags behind SME customer expectations.

New survey shows insurer’s claims service still lags behind SME customer expectations.

According to a our recent independent survey of SME insurance customers, there remains a clear gap between the experiences and expectations of SMEs in the UK* when it comes to making a commercial insurance claim.

Despite the growing appetite and interest in SME insurance products and distribution opportunities, our survey found the experiences of those making claims were still lacking.

A snapshot of the numbers:

  • Nearly 70% of SMEs say interim and final claims amounts not agreed promptly
  • 6 out 10 SMEs received no advice on loss mitigation as part of the claims process
  • Only 16% of businesses had a loss adjuster visit with 24 hours of reporting a claim
  • Close to 60% of SMEs had no regular communication from their insurer on claim progress
  • Over half of SMEs got no explanation of claims responsibilities

 

For SMEs who had made a claim of over £5,000 in the last two years, their experiences revealed insurers still have some way to go to address the concerns highlighted in the Financial Conduct Authority’s thematic review on SME claims published in 2015.

 

When asked about the support received, only half of the SMEs (56%) said they had received advice and support in preparing the claim. 57% of respondents said they did not have regular communication from their insurer on the progress of their claim.

 

53% said they were given no explanation of who was responsible for their claim and the same percentage said they were provided with no information on their cover and claim coverage. When it came to claim settlement, nearly 70% indicated their insurance company or its loss adjuster did not agree interim and final claims amounts promptly.

 

When asked to what extent their insurance company and its loss adjuster understood the impact of the loss on the business, over half of SMEs said they only understood somewhat or partially. Just under 6% said they did not understand at all.

 

The results of those who made a claim contrasted with what many SMEs expected their insurer to provide.

 

SMEs surveyed who had not made a claim, had clear views on the most important aspects they would expect to receive as part of the claims service. At the top of the list was for their insurer to provide regular communication on the claim’s progress. This was closely followed by advice and support in preparing a claim and prompt agreement of interim and final claims settlements.

 

Expectations around receiving information on cover and which sections might be relevant for the type of claim being made and guidance from their insurer on how to mitigate the impact of the loss on their business also featured highly amongst SMEs.

 

Commenting on the survey results, Neill Johnstone, managing director of Lorega, said:

 

While the development and distribution of insurance products for SMEs continues to evolve, our survey indicates there remain challenges in the servicing and support available when SMEs call on the policy in the event of a claim.

“The foundation of our business model was to provide policyholders with access to claims expertise; enhancing the service they received when it came to making and settling claims. The results of our survey reveal that this approach is more relevant and necessary than ever before.

“The survey reflects a number of findings from the FCA’s thematic review on the handling of insurance claims for SMEs which was published over two years go. It’s clear that the industry needs to take a more holistic approach to supporting SMEs who suffer claims of £5,000 and over, developing covers that include a responsive claims services with access to professional support and expertise, to ensure the trading and financial impact on SMEs is kept to a minimum.”

* Lorega’s research was conducted by Censuswide, with 250 SME business owners between 19.04.2017 – 24.04.2017. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles.

 

 

How can we help?

When you are running a business, in the event that you need to make insurance claims following a loss, you need to have the confidence it is going to be sorted quickly.

Loss Recovery Insurance – For Businesses is an insurance policy which provides the policyholder with unlimited advice from one of our expert loss adjusters, to help you prepare, negotiate and settle a material damage or business interruption claim.

Acting independently of your insurance company, to help you achieve the fairest and fastest settlement possible under your insurance cover. We have a nationwide network of expert loss adjusters who respond promptly on notification and will visit you within the first 24 hours.

We have more than 25 years of experience in helping policyholders with their insurance claims, giving you peace of mind when you need it most.

Swinton Group partners Lorega on new commercial loss recovery service

Lorega Limited (Lorega), the UK MGA and assistance specialist, has been appointed by Swinton Group to provide commercial loss recovery insurance and expert loss adjusting services for its SME customer base.

 

Lorega’s loss recovery insurance is now available to Swinton Business clients, for claims in excess of £5,000.  Customers who select this service will have access to expert advice from Lorega’s chartered loss adjusters, to help in the preparation, negotiation and settlement of material damage or business interruption claims.

 

Neill Johnstone, Lorega’s managing director, said: “Swinton recognises the important role expert claims support plays in helping SME customers get back on their feet quickly after a claim. Our commercial loss recovery product is designed not only to offer peace of mind, but to complement Swinton’s strong personal service culture.”

 

Tony Monnington, head of commercial at Swinton Business, said: We are delighted to be partnering with Lorega and their loss recovery insurance offering; the addition of this product is in keeping with our desire to continue to deliver “added value” propositions for our customers.

 

Kirsty Walker, director of insurer development and product at Swinton Group, said: “Lorega delivers proven expertise and support that directly helps to enhance our customers’ claims experience. Supporting SMEs to get a fast and fair settlement in the event of a loss is an important addition to our business insurance products and services.”

 

For further information please contact:

Alex Wise, Full Circle Corporate Communications

T          +44 (0)20 7265 7887

M         +44 (0)7710 665615

E          awise@fullcirclecomms.co.uk

 

About Lorega

Lorega is the UK’s leading supplier of assistance insurance products to the SME market, which help home and SME business customer when they need it most.

Its Loss Recovery Insurance product is an insurance policy which provides and pays for the cost of an independent expert loss adjuster, authorised by the FCA, to help a broker’s clients prepare, negotiate and settle their insurance claims.

HSE Recovery is for SMEs with an annual turnover up to £5m. Firms must be subject to health and safety regulations, enforced by the Health and Safety Executive and, where employing five or more employees, prior to any HSE intervention have a written statement of health and safety policy and a risk assessment relating to the business. Insureds must also have a current employers’ liability insurance policy which was in force prior to any Health and Safety Executive intervention.

Operating in a similar way, its Cyber Recovery insurance product was launched in May 2016 to help businesses survive a data breach following a cyber-attack by providing a Cyber Expert to help them recover and liaise with the Information Commissioner’s Office.

These expert services are also available on demand.

About Swinton Group:     

  • It has been meeting the needs of its 1.4m insurance customers for 60 years
  • The UK’s largest high street insurance broker
  • Works with a panel of insurers to find the right cover for customers
  • Offers a range of insurance products from car to home, bike to van, commercial to taxi insurance, plus additional services like breakdown cover
  • Ranked second in the Auto Express ‘best car insurance companies 2016’
  • A Gold Feefo Trusted Merchant 2017, a unique accreditation based on the experiences of genuine purchase verified customers and reflects consistently high scores in customer service
  • A UK subsidiary of leading French mutual insurance group Covéa, which is the leading property and liability insurer in France and serves over 11.4 million policyholders, with earned premiums of €17.2bn in 2015.

For more information please visit www.swinton.co.uk

 

Lorega launches specialist Health and Safety assistance insurance product for SMEs

PRESS RELEASE

Lorega Limited, the UK MGA and assistance specialist, continues the expansion of its range of assistance products, specifically designed for SMEs, with the launch of HSE Recovery.

Lorega_HSE_LogoLorega’s HSE Recovery insurance provides SMEs with dedicated support from independent, expert health and safety professionals following a covered material breach of legislation enforced by the Health and Safety Executive, together with cover for charges they may incur under the Fee for Intervention (FFI) scheme.

FFI enables the Health and Safety Executive to recover the costs of its regulatory work from those who have materially breached health and safety legislation. More than 60% of HSE inspections now result in a FFI. The Health & Safety Executive currently charges firms for all the time taken in the inspection which identified the breach and all the follow up time in subsequent correspondence and inspections.

Where the insured has been notified by the Health and Safety Executive in advance of a visit or they have been served an enforcement notice, Lorega’s HSE Recovery provides cover for up to £25,000 in respect of fees for a health and safety expert; this will include initial telephone advice, a review of documentation and site attendance where FFI is imposed. Further cover of up to £25,000 to meet the costs of a FFI. If the Health and Safety Executive decide to conduct an interview under caution, then there is also cover for expert and legal fees.

The introduction of the FFI scheme means SMEs can face significant charges and lost management time trying to deal with the impact of an accident or Health and Safety Executive intervention. Without the necessary skills in house, HSE Recovery provides dedicated support from specialist health and safety professionals that can minimise the disruption this is likely to cause and the cost of HSE fees charged.

The expansion of our portfolio reflects our aim to provide brokers with specialist services that directly address their clients’ needs. By providing SMEs with access to expert help, we can quickly resolve their issues and minimise the financial impact of the risks to their business.

Neill Johnstone

Managing Director, Lorega Ltd

ENDS

For further information please contact:

Alex Wise, Full Circle Corporate Communications

T          +44 (0)20 7265 7887

M         +44 (0)7710 665615

E          awise@fullcirclecomms.co.uk

Notes to editors

* The Health and Safety Executive Annual Report and Accounts 2015/16 http://www.hse.gov.uk/aboutus/reports/ara-2015-16.pdf

Lorega is the UK’s leading supplier of assistance insurance products to the SME market, which help both home and SME business customers when they need it most.

HSE Recovery is for SMEs with an annual turnover up to £5m. Firms must be subject to health and safety regulations, enforced by the Health and Safety Executive and, where employing five or more employees, prior to any HSE Intervention have a written statement of health and safety policy and a risk assessment relating to the business. Insureds must also have a current employers’ liability insurance policy which was in force prior to any Health and Safety Executive Intervention.

Lorega’s Loss Recovery Insurance product is an insurance policy which provides and pays for the cost of an independent expert loss adjuster, authorised by the FCA, to help a broker’s clients prepare, negotiate and settle their insurance claims.

Operating in a similar way, its Cyber Recovery insurance product was launched in May 2016 to help businesses survive a data breach following a cyber-attack by providing a Cyber Expert to help them recover and liaise with the Information Commissioner’s Office.

These expert services are also available on demand.

Health and Safety Experts

Lorega have partnered with Quadriga Health & Safety Ltd to provide the expert health and safety services provided under the policy.
Quadriga has a highly experienced team of health and safety professionals, who can support policy holders making a claim under the policy.
Ian Clements, Managing Director of Quadriga said: Many SMEs don’t know how to handle the complexities of an HSE investigation, and expert support is of great assistance in ensuring the right action is taken, both at the time of such an involvement and for the future.

For further information: www.lorega.com and Twitter: @LoregaLTD

Lorega appointed to provide loss recovery insurance to British Insurance Brokers Association members

Following a regular scheme review the British Insurance Brokers’ Association (BIBA) has appointed Lorega as the provider of their members’ loss recovery insurance scheme.

A market leader in the provision of Loss Recovery Insurance, Lorega has been appointed for a three year term beginning on 13 May 2016.

Under the scheme BIBA members will have access to cover for both personal and commercial clients which will include access to a Chartered Loss Adjuster for any size or complexity of claim, with unlimited service, until it is settled. In addition, brokers can access, the Lorega 10 product, which provides up to 10 hours of expert telephone advice to help prepare, negotiate and settle claims.

BIBA members will be able to quote and bind cover through the ‘Lorega Online’ trading platform and will have access to full sales support including product awareness training and coaching.

Neill Johnstone, Managing Director of Lorega said; “We are delighted to return to the position of BIBA scheme provider with an enhanced proposition.

“Following the FCA’s review of claims which called for an improved claims experience, BIBA members will appreciate the benefit of being able to offer their clients access to a professional Chartered Loss Adjuster, who will act exclusively for them in preparing, presenting and negotiating property and or business interruption claims.  We look forward to working with BIBA to offer these products to their members.”

Mike Hallam, BIBA Head of Technical Services added;  “We are pleased to be working with Lorega to provide our members with the option of accessing specialist loss recovery insurance covers. This will help our members to ensure claims are handled quickly, effectively and easily, at a time when their clients will really want to see the value of their insurances.”

For more information about the BIBA scheme please contact us here.