Insurance Companies, Underwriters and Reinsurers rely upon the services of Loss Adjusting companies and Claims Management organisations to assist them in claims handling, either on a routine, repeat basis of following surge events such as Floods, Escape of Water, Earthquake, Covid 19 Business Interruption and Subsidence. These services may be required by a Principal across the UK and/or on an international basis.
A great deal of trust is placed by the principal in the loss adjusting or claims management teams relating to routine case management, Complex and Major Loss assignments or Catastrophe Response.
To ensure regulation compliance in the particular operating sector, the principal will be required to engage an independent, competent chartered loss adjusting company to perform file audits on open and closed cases that have been contracted to adjusting firms or claims management companies. HTL provides high-level teams with many years’ experience in UK and international markets to conduct such audits.
The audit function is essential to measure and validate the following:
1) Verification of the handling adjuster’s/ claims handler’s work, speed of service, empathy for the principal’s client and technical abilities.
2) Ensuring Compliance with the engaged policy wordings and correct interpretation of policy liability and terms.
3) Proof that the recommended claim settlement is accurately calculated, fair to all involved parties and compliant with local legislation/ regulation and adherence to the principal’s claims handling ethos.
4) Highlighting of any potential bias or factual/ arithmetic errors on the part of the adjuster/ adjusting company.
5) Fraud prevention on the part of a policyholder, their advisors or any other related party.
6) Provision of required Management Information and Bordereau in a timely and accurate manner.
