interview Paul Lawrence PARTNER HARRIS BALCOMBE LLP Take Five
If we thought the broker/insurer affiliation was once confrontational, how about the relationship between the loss adjusting and assessing professions? One acting for the insurer - the other for the client.
The demarcation lines are a lot less visible today, but inevitably when the Editor and Paul Lawrence got talking, it was the past that kicked off the conversation
AN: Friction caused by conflicts of interest - I guess that’s the impression from the past that comes to mind when assessors become involved in a claim. That’s only to be expected when one party is pushing for the policyholder and the other for the insurer. But assessing has not always attracted universal respect, has it? PL: Loss assessors haven’t always had the best press. In times gone by it was probably fair to say that some in the profession sailed pretty close to the wind. Twenty years ago the relationship with insurers was often poor and at times, adversarial. It’s a far cry from the world we live in today where a company like HB have very good relationships with insurers, brokers and their customers. You only need to look at the HB claims charter to see how things have gone full circle. Today it is all about co- operation, collaboration, and working together to ensure that all the parties involved in a given claim will come through the process feeling like fairness and equity have been the winners.
10 insurancepeople MARCH 2011
AN: Harris Balcombe claims to have more experience and technical knowledge than any other organisation working on behalf of clients. That’s quite a claim to make, isn’t it? PL: Well, not only do we have many chartered loss adjusters, but we also have chartered accountants; experts in BI; chartered surveyors; and a further wealth of talent from within the industry. No claim is too big or too small. We have a proud reputation of dealing with very high profile clients and working with some of the very best insurance brokers in the UK. Our client list includes United Biscuits (UK), Marylebone Warwick Balfour Group; The Grand Pier Weston- Super-Mare; Synergy Health, Arcadia Group; and BHS.
AN: For the past few years insurers have received a lot of stick for deficient levels of claims service. And negating claims. What’s your view? PL: The sad truth for many insurers is that their claims service is poor. There are notable exceptions, but
exceptions are what they are. Claims are often complex, and unless handled in a professional way can be the downfall of many clients.
Insurers’ margins are being squeezed more than ever with the moderate returns from the stock market and interest rates at an all-time low. There’s no sign of the market hardening any time soon. We are seeing more insurers looking for ways to negate a claim. That makes the level of service we aim to offer using our experience in negotiating on policy cover - coupled with a strong depth of technical knowledge - so vital.
AN: What’s the impact on all this for brokers sitting in the middle? PL: The broking fraternity live in fear of getting a business interruption claim wrong. Those broker management teams responsible for these claims are right to be worried. We see examples every day of claims that have the potential to become a professional indemnity claim.
When working with brokers our aim is to come to the rescue by getting the parties together and working through a solution. Brokers who know and trust us simply can’t operate as effectively without us.
AN: What about that
suggestion I raised at the outset about friction occurring when assessors become involved in a claim? PL: Long gone is the notion that if an assessor is involved there’s likely to be a problem for the broker and insurer. In the new world, assessors can become invaluable to those clients and brokers who need the help and support that a vast wealth of experience can bring.
AN: So how do brokers feel about assessors getting involved? PL: Honest brokers know that they are simply ill-equipped to deal with major losses. They have neither the time, or in many cases the technical nous to deal with the claim. Time is everything for the broker, and that is why we are so successful. We will always
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