Commercial Loss Recovery

A loss recovery insurance policy is designed to pay the fees for a qualified loss adjuster to prepare, present and negotiate claims with your commercial insurance providers. The policy covers eligible material damage and business interruption claims that are likely to exceed £5,000, helping to protect your interests and save you time. Loss of revenue due to a range of unforeseen circumstances can be damaging for a business. Having loss recovery insurance can reduce the financial impact on a business and get normal service resumed as fast as possible.

Key Benefits of Loss Recovery Insurance:

In the event of property or material damage that causes an interruption to a business’s normal working practice, loss recovery insurance is designed to mitigate losses while a business recovers. Some of the main advantages of a loss recovery insurance policy include:

Quick response at a time of crisis

All new claims reported will receive a call back within an hour and will receive a visit from your Loss Adjuster within 24 hours. When a crisis occurs, it is important to move quickly to avoid further disruption to the business. That is why our loss recovery insurance is designed to act fact. Giving you the peace of mind that your business will be back up and running with minimal delay.

A dedicated Loss Adjuster to prepare and negotiate your claim

A dedicated loss adjuster is a crucial part of any loss recovery insurance package. Alan & Thomas will provide an independent loss adjuster to deal directly with your insurer from start to finish, ensuring you achieve the fairest settlement possible within the terms of your commercial insurance. Having a loss recovery insurance policy means an expert loss adjuster will deal with your situation to achieve the best possible claim outcome.

Saves time and minimises disruption to the business

With a loss recovery insurance plan an expert will deal with claims on your behalf, attending insurer meetings and handling all correspondence. This means that you can focus on what’s important in your business.

Works directly with the company’s accountants to prepare a business interruption claim

A key element to calculating a business interruption claim will involve speaking to your accountant and arrange for interim payments from your insurers where necessary.

Arrangement of remedial work and surveyors if required

Loss recovery insurance ensures that a business can continue to operate in the event of property or material damage. The Loss Adjuster will be able to assess and organise temporary premises and equipment, surveyors, valuers and builders as required. This allows a business to maintain productivity, even in a different location.

Commercial Loss Recovery Insurance Claims Examples:

Fork Lift Truck Accident

A forklift truck accidentally ran into a machine at a laser cutting and fabrication business which led to a stop in production. The replacement parts needed to get up and running again were not expensive, but they would take 12 weeks to be delivered and installed which meant that they would not be able to deliver on some of their orders in time.

The business had a loss recovery insurance policy which meant that they had a Loss Adjuster on site the next day and they were able to demonstrate that the loss of profits from being unable to fulfil their orders would be considerably more than the cost of buying a new machine. The loss of profits would have been covered under the company’s business interruption section of their commercial insurance and as the new machine could be delivered and installed within 7 days, the insurance company paid for the new machine to minimise the total size of the claim.

Flooding before a crucial event

5 days before an Open Day for an education centre, there was a storm with significant rainfall that caused the roof and the floor below to collapse and water poured through the building forcing the closure of the premises. The Open Day was vitally important to the education centre as this was where they enrolled new students and the number enrolled determined the amount of funding they received. They notified the claim and as they had a loss recovery insurance policy, they had a Loss Adjuster on site in the next few hours. The Loss Adjuster was able to get contractors appointed to put measures in place to prevent any further water from getting in as well as to start the drying process. They were able to speak to the insurer and get works authorised in an exceptionally short space of time which meant that they were able to still host the Open Day.

How would your business cope in a potential crisis? Does your business need a comprehensive loss recovery insurance policy? As a chartered insurance broker, we can get your business the best possible deal on a loss recovery insurance policy. For more information about loss recovery insurance or any other commercial insurance, contact us now. To get a quote give us a call on 01202 754900 or email us at