Two Jardine Lloyd Thompson companies have teamed up with the Loss Recovery Group to offer loss recovery insurance backed by a claims handling service.

The loss recovery product is to be distributed by JLT Corporate Risks and JLT Corporate Recovery Risks.

Peter Franklin, managing director of JLT Corporate Recovery Risk, said the partnership with the Loss Recovery Group would enable it to provide a nationwide network of claims handlers, which would otherwise be unfeasible.

He said: “Should our clients suffer a loss, qualified personnel, acting as an extension of our own claims service at this vital time, will now be on hand to prepare and negotiate their claim.”

Malcolm Harvey, managing director of the Loss Recovery Group, said it viewed the agreement as a new benchmark in claims handling.

“Not only does loss recovery insurance assist in reducing a broker's optional expenditure, it also allows a redistribution of resources away from what has always been an administrative overhead, to more productive areas.”