Spotlight

Loss adjusters are at the heart of the initial investigation of an insurance claim and they play a crucial role in gathering evidence on behalf of insurers.

Given the importance of this stage, which can set the tone for all future dialogue with insurers, it is essential that a party representing the insured is aware of the role played by the adjuster, his rights and obligations, and what can be done to protect a vulnerable policyholder pressed to respond to a detailed investigation immediately following a significant loss.

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As part of our service to the general insurance broking community, we regularly prepare a digest of the most significant publications from the FCA. Given the volume of paperwork they produce, it can sometimes be difficult to see which is the most relevant to our sector.

A Client TOBA is a very familiar document to us all and these were in existence in many firms long before January 2005, the start of FSA regulation.

RWA Solutions approached 300 of those firms with an anonymous 20 question survey and almost exactly 25% responded.

As the British public are rediscovering 1930’s Corfu through the recently aired and beautifully captured series, The Durrells, I took to the sky to be there in the present day attending the 3rd Annual Corfu Symposium 2016 – Managing and Marketing Places.

Another initiative where Aviva has been involved is the Meeting Recorder app, developed by consultancy firm RWA and funded by the insurer. Tom Wood, director at RWA Business Consultancy, explains that the app allows brokers to create a record of when they have been to see a client, using their GPS. They can also add notes on what has been said in the meeting. “So if there is a claim they can say they have evidence that they went to see the client on that day and show a copy of the notes they made,” he says, adding that a copy of the record can also be sent to the client.

Getting Close to the Client's Knowledge: There is a danger of dealing with too large a chunk of the Act at one time. What we want to do with these bulletins is focus on one key learning point at a time. The Act has a section on the knowledge of the insured and it is one aspect of that we wish to deal with today. There are actions that you may consider taking once you have read it.

The second issue we want to raise concerns online and non-face to face business where gathering information will be much more difficult if a fair presentation is to be made.

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