Loss Recovery Insurance

Insurance from Rowlands & Hames.

Loss Recovery Insurance – how it works

In the event of a major property/material damage or business interruption loss an insurer appoints a Loss Adjuster to ‘adjust’ the claim based upon the policy in force on the date of the claim, taking all circumstances into account.

Until several years ago these independent adjusters could be relied upon to not only act completely independently of the insurer but spend time and effort with you to seek the most appropriate settlement.

However, with insurers putting pressure on the fees they pay adjusters we have seen the service from many firms of adjuster suffering with policyholders often not receiving the comprehensive service they require.

To accommodate this situation the industry has devised a solution by way of Loss Recovery Insurance.

A Loss Recovery policy is purchased with the terms determined by the premiums of the underlying material damage and business interruption policies. For small package type policies, premium start from as low at £50.

The policy reacts to any property and/or business interruption loss in excess of GBP £5,000.

The Loss Recovery policy provides you with your own independent Chartered Loss Adjuster who works on your behalf to settle the claim alongside the insurer’s adjuster. The policy pays for the Loss Adjuster’s fees.

A nationwide base of expert loss adjusters, who respond promptly on notification and will visit within the first 24 hours.

Your own loss adjuster will help you achieve the fairest and fastest settlement as possible under your insurance cover. They stand shoulder to shoulder with you, no matter how complicated or large the claim, until we achieve settlement – giving you the confidence to get on with your business.

The policy does not provide for:

  • Claims below £5,000
  • Personal Injury claims
  • Liability, Marine, Aviation etc
  • Subsidence claims
  • Losses outside the UK