Celebrating 15 years of success
As we celebrate 15 years of success at Hamilton Bond, providing expert Claims Consultancy, we have been reflecting not only on our journey, but the changes we have seen and experienced in the claims industry over this time.
There has been a growing level of demand and increasing level of awareness of the Claim Preparation concept, which has seen our business evolve through considerable growth and expansion. We started our journey as a “team” of 1, and have grown over time into a team of 20, with our Claims Consultants providing over 300 years of combined experience.
Providing a service in this demanding environment, where a negative event has affected a client’s business, means we play a vital role where our advice blends insurance knowledge, claims expertise and business recovery experience, with our service, critically assisting not only the Insured’s claim outcome and business recovery, but supporting the Brokers as well. We are in a unique position to provide specialist guidance, whilst streamlining the claims process and optimising the outcome.
The amendment to the Insurance Act in 2015, placed an increased emphasis on the duty of fair presentation of risk, for example the way in which insurers can void a policy or repudiate a claim. It is important to remember that the Insured is not the expert when it comes to an insurance Policy and with this in mind, ensuring the advice given is accurate and understood by the Insured is key – particularly when their immediate focus is the recovery of their Business following an incident.
Our Claims Consultants are Associates & Fellows of the Chartered Institute of Loss Adjusters (CILA), which allows members to act for the Insurer or the Insured: when we started the business it was relatively unheard of for a Chartered Loss Adjuster to act for the Insured. Hamilton Bond sought to change that position by bringing a qualified, professional solution directly to the Insured party’s assistance at their time of need.
There are various benefits to be gained from engaging a claims professional during what can be an extremely stressful process:
- From overturning a repudiation,
- ensuring policy liability is accepted,
- correctly quantifying the actual loss incurred,
- to ensuring the technicalities of an insurance programme are fully applied.
The activity throughout is always focused on returning the Insured to their pre-loss position, with the optimum claim outcome.
We are delighted that as we celebrate our 15th year, we are seeing much greater engagement, understanding and acceptance of the Claim Preparation Service – with an increasing number of Insurers now including cover for Claim Preparation Fees. This allows the Insured party not only to engage their own claims professional, but that the costs are covered by their insurance Policy – ensuring they truly receive the benefit of the insurance cover to recover the investment in their Business; a genuinely complete solution.
Reaching this milestone has given us the opportunity to reflect on the journey we have had, successfully supporting Clients across the UK over the last 15 years and also to look forward to and consider the challenges and future successes the next 15 years will provide.