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Lorega tops the MGA Survey 2020/21

MGAs and brokers: Mutual understanding and mutual success – it’s all about the service

This week saw the publication of the inaugural Insurance Times MGA Survey. The survey is one of the first to gain the views of UK brokers on a range of key areas of service from MGAs and to provide a dedicated ranking.

Never a business to shy away from seeking the views and feedback from brokers, we were excited to get involved. That excitement has translated into pride with the news that Lorega has achieved an overall 5-star service rating and tops the list of MGAs.

Our success in this new MGA focused survey comes on the back of a three -year run in the top spot of the Insurance Times Broker Service Survey which ranked both insurers and MGAs together on a range of service-related metrics. Being ranked as number one for commercial lines service in the Broker Service Survey was a proud achievement and something that spurred the team on to do even better when Insurance Times, recognising the increasing role of MGAs in the market, decided it was time to have a dedicated survey just for them, and we are glad they did.

Did we think we could maintain our run of service success? Would it be different if rather than measuring our service against a wider group including insurers it was just our peers? MGAs are certainly recognised for their flexibility, accessibility and entrepreneurialism so how would we fare amongst what might be considered to be stronger competition? On this basis, the results and our overall success is even sweeter!

The MGA survey asked brokers across the UK to rate their MGA partner in five service areas covering underwriting expertise, flexibility and support; the fairness and speed of claims settlement; broker relationship management; quality of cover; the accuracy and clarity of documentation.  

Alongside achieving the highest overall rating, Lorega was number one in many of the important service areas identified by brokers namely claims, relationship management, the quality of cover and the overall quality of documentation.

“The best of service given by anyone.”

“The ease of their quoting system and proven high service provided when the policy is needed.”

“Consistently good service, low rates and great people to deal with.”

“Service and product are excellent.”

While the numbers are important, they don’t tell the whole story. The feedback we received from brokers in the survey is a matter of great pride and a real testament to the hard work of the whole team.

The views of brokers are extremely valuable, but the key to delivering sustained levels of high-quality service is to continually listen and act on what they tell you.  We’ve maintained our focus on the broker and continued to deliver an outstanding service by keeping the customer at the heart of what we do.

Brokers are rightly concerned about how COVID-19 and the resulting economic challenges for businesses right across the UK will impact on MGAs and their access to capacity as well as the resilience of the wider insurance industry after such a difficult and uncertain period. A close working relationship between MGAs and brokers, built on communication and a mutual understanding of each other’s needs has never been more crucial.

Thanks to all the brokers who responded to the survey and sharing their experiences of working with Lorega. While we are proud to have continued to achieve high service satisfaction ratings and will continue to work hard to make sure the needs of brokers and the clients are at the forefront of what we do and how we do it. Our purpose as a business is to help our clients; providing them with fast, efficient and expert support and advice when they need it. That hasn’t changed since we started trading and will continue to be so for very long time to come.

Neill Johnstone

MD, Lorega Ltd.

Covid-19: How Lorega can help

Covid-19: How Lorega can help

Covid-19: How Lorega can help

With the UK in lockdown, in response to Covid-19, Lorega continues to offer its expert claims advice remotely.  Our claims line remains open 24/7 and we are here to help with your insurance claims, whether you have our Loss Recovery Insurance or not.

With businesses being badly affected throughout this period, where liability has been accepted by insurers, we are helping businesses with their business interruption claims through the preparation and negotiation of their claims.  If you have a Lorega Loss Recovery Insurance cover and are uncertain about your claim, please let us know.

If your insurance company has accepted liability for your loss but you do not have our Loss Recovery Insurance cover, don’t worry, our professional services are still available to you.  We call this service our ‘Expert Help’ service and it is available to you, if you would like to take advantage of our expertise, on a fee basis.

Rest assured we would work tirelessly for you to achieve a fair and prompt settlement of your claim, together with interim payments to help your businesses with its cash flow.

If you would like to find out more about Lorega’s Loss Recovery insurance, please contact your insurance broker.

If you would like to find out more about Lorega’s ‘Expert Help’ services, please e-mail us at experthelp@lorega.com or call 020 7767 3070 to speak to a member of our team.

More information about us

Lorega is an independent company, owned by the people who work in the business, backed by a private equity partner, and has been going strong for 35 years. During this time, we have only ever represented policyholders, never insurance companies, and we believe passionately in the work we do. Our claims experts, across the whole of the UK, are all qualified Chartered Loss Adjusters and have a wealth of experience in the insurance market.

We have over 100,000 policyholders and clients across the UK, from many types of business, and manage a high volume of claims each year.  We believe that it is the experience, qualification and expertise of our Chartered Loss Adjusters which enables us to ensure that our policyholders gain a full and equitable settlement under the terms of their property and business interruption policy.

As an indication of our overall service standards, policyholders who have had a claim, have scored us at more than 95% satisfaction, in our follow up surveys, for each of the last five years.

Having a claims expert on your side levels up the playing field and provides expert advice to you in formulating, presenting, and negotiating your claim. Our professionally qualified Chartered Loss Adjusters have the experience and the qualifications needed to competently review and interpret the complexities of your policy wording and then calculate the amount which is contractually due to you.

 

Lorega expands Cyber Recovery insurance portfolio with dedicated homeowners cover

Press Release: Introducing Cyber Recovery Insurance for Homeowners

Lorega expands Cyber Recovery insurance portfolio with dedicated homeowners cover

Lorega Limited (Lorega) has expanded its Cyber Recovery insurance portfolio with the addition of dedicated services and cover to help homeowners recover from cyber threats and attacks, email fraud, cyber theft and identity theft.

Lorega’s Home Cyber Recovery provides homeowners with access to 10 hours or 25 hours of expert advice and, depending on the level of service, cover is available for related costs including repairing or replacing computers systems, personal data reconfiguration and restoration, removal of viruses and ransomware,  termination of hacking, losses incurred in fraud or theft, liaison with financial institutions in case of identity theft and certain costs and expenses in relation to defamation liability claims.  

According to the UK government, by 2020 it is expected that every household in the country will have 15 internet connected devices and there will be a total of 420 million in use by 2021. With significant levels of personal health, financial or other sensitive data being stored and shared on these devices, individuals are becoming increasingly vulnerable and their information susceptible to a cyber-attack.

In the event of such an attack, Home Cyber Recovery offers 24/7 expert advice, incident investigation and restoration services delivered by Lorega’s Cyber Emergency Response Team (CERT). CERT is operated by Agenci, a leading international cyber security consultancy and Lorega’s cyber insurance partner.

Andrew Kilgour, Director of Broker Relationships, said:

”The risks and impact of cyber-related crime are no longer the sole domain of businesses. The growing dependence on connected devices in the home for day-to-day activities is creating a clear need for personal cyber protection and assistance. We are responding to this with a dedicated service designed to provide advice and assistance when it is needed most to help homeowners to recover from a potentially devastating and damaging cyber-attack.”

Lorega adds live video streaming to support faster claims assessment and loss mitigation advice

Press Release: Introducing Live Video Streaming

Lorega adds live video streaming to support faster claims assessment and loss mitigation advice

Lorega Limited (Lorega) has launched a live video streaming service for policyholders to enable the company to provide faster claims mitigation advice and expert support at the point of claims notification.

 

The service, available to all customers with Loss Recovery Insurance or using the company’s telephone advice service, Lorega 10, enables the policyholder to live stream views of their physical loss directly to the desktop of Lorega’s claims experts.

 

Being able to see the full, physical detail of the loss within minutes of it being reported enables Lorega to obtain an earlier assessment so they can deliver more accurate initial loss advice on security and loss mitigation measures. 

 

Customers use a secure weblink sent to their smartphones to access the system developed by Lorega’s ‘Insuretech’ partner, an international online video platform provider, to access the streaming service. This means there is no need to download software to the smartphone and the link is up and running immediately.

 

Neill Johnstone, managing director of Lorega, said: 

“This represents an important enhancement to our already high levels of customer service and support. By enabling claimants to provide video upon notification of a claim, we can provide faster and more accurate advice on dealing with and mitigating the loss. The investment in video streaming further demonstrates our commitment to providing expert help to minimise the impact, costs and disruption of a property damage claim.”

Number 1 for Customer Service Three Years Running

Number 1 for Customer Service Three Years Running

Number 1 for Customer Service Three Years Running

We’re delighted to announce that we have been ranked first amongst the UK’s top MGAs and Insurers for commercial lines customer service for an unprecedented third year running in the annual Insurance Times Broker Service Survey.

Although this year’s Survey separates the results for the Insurer and MGA businesses, Lorega was the only business to achieve a 5 star rating in all categories of service, with the highest score in each and an overall score of 4.52 out of a maximum of 5. This places us ahead of Covea, Markel, Aviva and others, who were ranked immediately behind us in the Insurer category.

The annual survey asks Brokers and other intermediaries to score their insurer partners out of 5 (where 1 is poor and 5 excellent) in five categories: quality of cover, fairness and speed of settlement of claims, access to decision makers, accuracy and transparency of policy documentation, and expertise and flexibility of underwriting.

 

Lorega performed outstandingly well for a third year in a row, performing highly across all five categories and within each of the four broker segments (Small Independent broker, Large Independent broker, Top 50 broker and Network Member). A positive experience for Brokers was also reflected in the verbatim comments received about Lorega, with many expressing satisfaction with our service.

 

Neill Johnstone, Managing Director of Lorega said: “Customer service is at the forefront of our culture and our team are passionate about helping our Broker clients and their customers with fast and efficient expert help when they need it. The key is to really listen to and respond to them, that’s our commitment to providing great customer service”.

 

To find out more about the accolade and Lorega’s commitment to customer service excellence, read the interview with Neill Johnstone in the Insurance Times.

Lorega’s Covid-19 response

Lorega’s Covid-19 response

Our Director of Broker Relationships, Andrew Kilgour, recently caught up with Insurance Age to talk about Lorega’s response to Covid-19.

On the video below, Andrew addresses the following questions:

 

  • Lorega’s involvement in Covid-19 claims
  • How Lorega has supported brokers during lockdown thanks to our live video streaming service and online training platform
  • The issues that remote working has caused for brokers
  • How we think remote working will look in the future for the insurance industry and its customers.

 

Watch the video here.

Case study: Lorega reduces impact of business interruption for gastropub.

Case Study: Licensed Trade

Material Damage and Business Interruption claim

Case study: Lorega reduces impact of business interruption for gastropub.

When a major fire broke out in a traditional gastropub, located in London’s West End, it suffered serious damage to its structure and the roof.

Luckily the pub, which dated back to the 1880s, was unaffected by the fire itself, but there was significant damage done by the fire service’s extinguishment water, which entered the pub and restaurant on the ground floor, as well as the kitchen in the basement.

This resulted in the ceiling collapsing and extensive damage to the flooring and the kitchen equipment, including the cookers and extraction system which suffered major damage. The result of this extensive damage meant that the pub was unable to trade, so the owners immediately contacted their insurance broker to find out what could be done under their insurance policy.

As they had Loss Recovery Insurance, Lorega was able to send a Chartered Loss Adjuster to visit the site within 24 hours and instigate drying measures, reviewing the extent of the damage and deciding on a strategy for moving forward. Unfortunately, this was not a straightforward claim and problems arose with regards to the separate buildings insurance arranged by the landlord, who seemed reluctant to instigate works to the flats and roof.  This resulted in subsequent rainwater penetrating the pub, meaning further damage. It transpired that the landlord of the building was submitting a planning application to change the roof and add more flats above the pub, which would result in considerable delays.

Beer Tap Lorega case studyThe Lorega adjuster was able to communicate with the insurers, who ultimately agreed to fund the emergency works needed including a “tin hat” over the building. Although this was not strictly covered under the policy, our adjuster argued that this would reduce the business interruption claim, which would outweigh the cost of the emergency works. This resolved the initial issues with rainwater and allowed proper drying to proceed, meaning agreements could be reached over the internal refurbishment of the pub.

The Lorega adjuster worked side by side with the client to maintain detailed records of any costs incurred and to prepare a full business interruption claim for presentation to the insurer’s loss adjusters. This was a complicated process as many of the staff had been redeployed to other pubs owned by the policyholder, but after considerable negotiation our adjuster was able to agree a sensible mechanism for calculating the loss of profits claim.

The pub reopened, but trade was still affected as works to the flats and roof were ongoing and there was scaffolding across the frontage. Our adjuster obtained agreement to put up temporary signage alongside some initial promotions, and a claim was agreed within the maximum indemnity period.

The pub is now continuing to trade successfully having re-established itself in the local market; both the broker and the policyholder were delighted with the service they received from Lorega.

Cycle ride from London to Paris

London to Paris Charity Cycle Ride

Raising money for two very worthwhile charities.

Cycle ride from London to Paris

Members of the Lorega team, set off from our office in London to cycle to the Eiffel Tower in Paris – 300 miles over four days, in aid of charity.

None of us had ridden this distance before and most last rode bikes with stabilisers. Needless to say, this was a daunting task but was all in a good cause.

Our chosen Charity partners

The ride raised funds for two very worthwhile charities, Marie Curie and First Stop Darlington, both charities which have a special resonance with members of the team here at Lorega.

Marie Curie give free care and support to people living with any terminal illness and their families, bringing light in the darkest hours.  The incredible nurses volunteer their own time to work closely with the NHS to provide this much needed support.

First Stop Darlington is a charity based in the North East of England working actively on the prevention of homeless, as well as providing a listening ear and support for those who are experiencing poverty, distress and social exclusion. In 2012 the charity set up a social enterprise and shop, Bike Stop, where the skilled team and their beneficiaries fix donated bikes to resell and provide a highly valued customer maintenance service.

If you would like to make a donation to these fantastic causes, then please click here.  

Meet the team

Some of the Lorega team taking part in this gruelling ride talk about their thoughts on the ride:

Neill Johnstone

Neill Johnstone

CEO

Tell us about your bike.
Bike is a Boardman carbon road bike, nicknamed “Gustave”

How you see your role in the ride?
Responsibility for rehydration and nutrition!!

Why are you’re excited to do the bike ride and what are you looking forward to?
It will be great to do four consecutive days of strenuous exercise and really test this old body frame of mine! I’m looking forward to the end of each day and to relaxing with a glass of fine French wine, a plate of escargot, all in the company of good friends and colleagues.

What do you think the hardest part will be and what are you not looking forward to?
Definitely the training and trying to drink less beer during the summer!

Amii Freeman

Amii Freeman

Underwriting Assistant and Systems Development Co-ordinator

Tell us about your bike.
Cinelli Saetta Radical. Nickname Nelly

How you see your role in the ride?
Organiser

Why are you’re excited to do the bike ride and what are you looking forward to?
I’m excited to see how much we can raise for 2 amazing causes. On the ride, I am looking forward to riding as a team and how we can push each other to keep up the pace and get up the hills.

What do you think the hardest part will be and what are you not looking forward to?
Hardest part will be starting again when I’m already aching and being social when I’m not a morning person.

Geoff Raikes

Geoff Raikes

Financial Controller

Tell us about your bike.
It’s a Look. The frame and forks are probably older than half the team, and the rest of it is a mish-mash of second hand / bargain bin parts lovingly assembled and hand tuned by me.

How you see your role in the ride?
I expect to spend a lot of time at the front of the group, navigating and leading the peloton.

Why are you’re excited to do the bike ride and what are you looking forward to?
I’m looking forward to hills! Climbs to test our resolve, and descents to test our nerves… and refuelling with friends afterwards.

What do you think the hardest part will be and what are you not looking forward to?
Getting going again in the mornings when my legs will still feel empty from the day before.

Lee Bennett

Lee Bennett

Director of Operations

Tell us about your bike.
Nightrider.

How you see your role in the ride?
Straggler.

Why are you’re excited to do the bike ride and what are you looking forward to?
Wine.

What do you think the hardest part will be and what are you not looking forward to?
Actually riding the bike.

Andy Mintern

Andy Mintern

Finance & Commercial Director

Tell us about your bike.
Well I’m driving the van!

How you see your role in the ride?

Carrying all the spare parts!

Why are you’re excited to do the bike ride and what are you looking forward to?
Driving in France

What do you think the hardest part will be and what are you not looking forward to?
Keeping up with them!

David Niman

David Niman

Management Accountant

Tell us about your bike.
Giant, the Davemobile.

How you see your role in the ride?
Head of “Facts”, whatever that entails.

Why are you’re excited to do the bike ride and what are you looking forward to?
To live my dream of pretending to be in the Tour de France.

What do you think the hardest part will be and what are you not looking forward to?
I think the hardest part will be the brutal hill we have on the end of the first day.

Lorega expands cyber offerings to support SMEs with low-cost crisis response solution

Lorega expands cyber offerings to support SMEs with low-cost crisis response solution

Press Release: Lorega Launches Cyber 10

Expanding our cyber offerings to support SMEs with low-cost crisis response solution

Lorega expands cyber offerings to support SMEs with low-cost crisis response solution

Lorega Limited (Lorega) have expanded their range of SME assistance products with a new low-cost cyber product, offering SMEs a stand-alone expert telephone helpline to support businesses following data breaches or cyber-attacks.

Cyber 10 offers 10 hours of crisis response, incident management, and investigation and restoration telephone advice from Lorega’s Cyber Emergency Response Team (CERT), upon discovery of a cyber attack or data breach. The CERT is operated by Agenci, a leading international cyber security consultancy, ensuring SMEs and VSMEs have the expert advice they need to get back on their feet as quickly as possible following an incident.

Cyber 10 builds on Lorega’s existing Cyber Recovery product, but is able to offer a lower cost solution to SME businesses, stripping out the additional cost of indemnity cover, by offering advice when it is needed most. It has been designed as a simple policy for businesses who understand the risk of cyber attacks and the likelihood of an incident occurring but cannot afford the high premiums quoted for many cyber insurance policies.

 

SMEs are increasingly at risk of a cyber-attack, but often find it difficult to understand the cover and pay the cost for an indemnity based insurance product. We wanted to offer an alternative, affordable solution which provides reassurance – expert help at the other end of the telephone in the event of a cyber incident.

Neill Johnstone

Managing Director, Lorega Ltd

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”

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 launches building surveying service to streamline property claims reinstatement process

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”