What does an insurance assessor do?

Independent loss assessors represent the insured party and not the insurance company. We make sure the insurance policy covers the event as well as survey the damage. We then compile a claim submission on behalf of the client and negotiate with the insurance company.

Why would a farmer need to engage an independent loss assessor?

Insurance companies will appoint their own loss assessors to represent their interests and adjust claims on their behalf and seek the best outcome for the insurance company. While insurance intermediaries must comply with the Consumer Protection Code and make a fair offer to the insured party, they are at all times representing the insurance company and not the farmer making a claim.

What are the biggest losses suffered under farm insurance policies?

Most losses on farms are related to storm, fire and liability claims. Most farm policies will cover fire, lightning, explosion, aircraft and impact damage. It is important for farmers to ensure that storm cover is added to their policy, as it is not generally included. The same goes when filling out the livestock section of a farm policy. There are a number of add-ons that can be sought as general policies only cover the liabilities noted above.

What is the main damage resulting from Storm Emma?

While insurers generally do not cover snow damage, any damage caused by snow from Storm Emma will fall under storm cover. Damage from a storm is generally accepted once there are gale force winds at a speed of 55-63mph. This is open to interpretation but some insurers will not cover storm damage under these speeds. Storm Emma was unlike other storms as the main damage was down to the weight of snow.

Is it expensive to engage an assessor?

Typically loss assessors charge on a percentage basis, depending on the size of the claim. Rates can vary from 7% to 10% plus VAT if applicable. A fixed fee can also be agreed on certain claims regardless of the settlement amount. While it may appear a significant charge, experienced loss assessors will successfully negotiate a claim to the maximum benefit of the policy. A loss assessor will typically get a 30% higher claims settlement than if a person dealt directly with the insurance company.

Why would the farmer not get what is owed to them under storm cover?

Claims can be declined for several reasons, mainly due to correct cover not in place or a breach of policy. Where the insured feels the adjustment of their claim is an unfair reflection of the damage, there are options such as appeal or arbitration or referral to the Financial Services and Pensions Ombudsman’s Bureau of Ireland Office, but these can be slow, lengthy and sometimes costly processes. Correct advice/representation is the best approach to avoid this.