I absolutely agree with Malcolm Harvey's comments (27 March, Insurance Times). I would however, add that the three major players in the claims market, specifically acting on behalf of the insured, my own company, Thomson & Bryant and the Harris Claims Group, have also for many years been championing this cause of regulation in our industry.
Regulation should be extended to ensure other issues that perhaps Mr Harvey does not consider important. Those issues are:
Many years ago I highlighted all these issues and pointed out that in the US public adjusters, as our industry is known, can offer those services to the insured after being registered to the state they operate in, and have rigorous examinations to pass before they can practise.
All these issues are extremely important to make sure that the public receives the very best quality service at a time when they need it most.
From the brokers' perspective it is equally important that, when they recommend a loss assessing company or loss adjuster to their clients to handle claims on their behalf, they should check the professional indemnity issue very carefully.
It would sadden me to see an insured suing his broker because the one-man-band assessing company that has advised the insured badly has no PI cover.
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