Flood Impact for Loss Adjusting on Local Businesses
Every year, the UK and surrounding European countries are subjected to Mother Nature’s power in the form of extratropical cyclones. While cyclonic windstorms can sporadically occur throughout the year, they are most common during the European windstorm season.
The 2020/2021 season brought on 8 storms with Storm Hortense being the most recent and active ones affecting the Iberian Peninsula.
As a result of these storms, specifically, Storm Christoph, and melting snow, parts of the United Kingdom have been affected by flood incidences. Both residences and commercial areas around towns and cities are facing the risk of increased flood-related property damage.
Hundreds of properties, both homes and businesses, around storm-affected areas have been evacuated. As of 20th January, hundreds of evacuations have been made in Wales and Greater Manchester.
Considering the ongoing rounds of lockdown around the UK, the aftermath of sorting through claims will be challenging for insurers.
For those unfamiliar with the term, loss adjusters work on behalf of insurers and assess claims made by policyholders, determining their validity. One aspect of their job is to ascertain that the damage is representative of the claim made by inspecting the property.
With the COVID-19 pandemic and ongoing threat to restoring your regularly scheduled program of events for 2021, insurers have to consider unsafe conditions that loss adjusters might have to face.
It’s not just the active windstorm season that poses a risk. With social distancing still fully in effect, insurers are concerned about loss adjusters exposing themselves to unsafe conditions.
Instead of visiting local businesses that have filed small claims, loss adjusters might seek the convenience of virtual technology. Photos and video calls seem to be the way forward, which albeit, comes with a few challenges of its own.
For instance, the extent and nature of structural damage are difficult to translate in its full capacity over video calls or through pictures. This can require more extensive and meticulous claim assessment.
In addition, making payouts and finding technicians to dry out spaces and starting the renovation and repair process will be harder to accommodate. Small businesses around the UK have also been dealing with turbulent income patterns as businesses have yet to reopen with relaxed regulations. This changes the nature of the claims being filed as each business has an unprecedented financial situation to navigate.
In this case, there might be small businesses that may want to look into hiring a loss assessor to represent their case. Their role involves helping policyholders through the claims process to obtain maximised compensation the business is entitled to receive.
Either way, this is an unpredictable time for insurers and policyholders alike. If you’re an insurance provider, you may be requiring additional hands as the number of claims for flood damage start rolling in.
Adjusting Appointments can help.
Writen by: Andrew Cowling on 2021-02-02
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