The recent floods will undoubtedly have a significant impact on the Insurance Industry, with likely cost implications of circa 2 billion. That as it may be, it has had a devastating and traumatising effect on the many householders and businesses who have been directly and so seriously affected.
Families have lost valuable and personal possessions and have been prevented from remaining within the secure comfort of their homes. Likewise, businesses have been seriously damaged, with potential long term implications.
It didnt rain, it poured, the majority of damage being determined by geographical catchment areas. In some towns and cities in Lincolnshire, South Yorkshire, Humberside and other parts of the UK, it was common to see a rowing boat or canoe being used a mode of transport on main roads!
As devastating as the floods were, let us be under no illusion. The majority of the claims arising there from will require long term proactive and sensitive case management to ensure that they are brought to a satisfactory conclusion. The drying out period could, in many cases, be lengthy, nevertheless and notwithstanding the scale of the damage, there is an opportunity here for the Adjusting Profession to demonstrate the added value and expertise that they bring to the Insurance Industry.
The immediate needs of policyholders are foremost and must be promptly addressed and their fears alleviated. Most adjusting firms have spent a great deal of time, investment and effort in preparing disaster plans to cater for situations such that have arisen, so we should all be prepared and able to competently deal with the task ahead, ensuring that we deliver upon the promises that we make to our Insurer and Broker clients.
Let us all demonstrate to Insurers and, most importantly, to the public, that the Adjusting Profession plays a vital and pivotal role and has the passion, commitment, resolution and resources to deliver when situations such as this arise.
Director of Claims
Press release: 2 July 2007