Loss adjusters stretched
Loss adjusters are calling in reinforcements from Canada, the UK, Asia and the US to cope with the growing barrage of claims from the Queensland and Victorian floods and Cyclone Yasi.
MYI Freemans GM of Strategy and Marketing Ian Simpson told insuranceNEWS.com.au the severity of this year’s natural catastrophes has been unprecedented – and the cyclone season is far from over.
He says normally loss adjusters would have access to staff in NZ to assist with claims in Australia after a major event, but the September 4 Christchurch earthquake means they are fully engaged already.
Mr Simpson says the NZ industry wants more Australian loss adjusters to assist even as aftershocks continue.
“But we’ve pulled in every resource we have in Australia already, and now our only option at this point is to get help from the UK, Canada and Asia,” he told insuranceNEWS.com.au.
“Our biggest concern is that there is still three months left of the cyclone season.”
Crawford & Company Australia CEO Andrew Bart says although at this stage the claims for Cyclone Yasi have been relatively low, the company is bracing itself for increases once access and communications into the area improve.
“We have activated a catastrophe plan for the cyclone and made arrangements to accommodate additional personnel in the region and deploy them,” Mr Bart told insuranceNEWS.com.au.
“We anticipate inspection rates will be low as access will be difficult for some time, but this will improve. And in the interim it give us the opportunity to focus on dealing with claims in Brisbane, Toowoomba, Central Queensland and Victoria.”
Despite increasing numbers of natural weather events battering the industry, Mr Bart says Crawford & Co is making significant process.
He says the company is utilising its position as the world’s largest provider of outsourced claims services by bringing additional personnel from the US and other countries.
“Clearly there is a finite number of personnel in the claims industry in Australia, and the recent unprecedented series of events has placed all of us under an extraordinary load.”
Australasian Institute of Chartered Loss Adjusters President Ian Lavin says members have committed their full resources to ensure claims are processed as quickly as possible.
“But the reality is that the damaged area is a vast geographic region and involves loss adjusters travelling to inspect properties over a large number of towns and regions. So this will take time.”