Lorega appointed to provide Loss Recovery Insurance to British Insurance Brokers’ Association members

11th May 2016

Following a regular scheme review the British Insurance Brokers’ Association (BIBA) has appointed Lorega as the provider of their members’ loss recovery insurance scheme.

A market leader in the provision of Loss Recovery Insurance, Lorega has been appointed for a three year term beginning on 13 May 2016.

Under the scheme BIBA members will have access to cover for both personal and commercial clients which will include access to a Chartered Loss Adjuster for any size or complexity of claim, with unlimited service, until it is settled.  In addition, brokers can access, the Lorega 10 product, which provides up to 10 hours of expert telephone advice to help prepare, negotiate and settle claims.

BIBA members will be able to quote and bind cover through the ‘Lorega Online’ trading platform and will have access to full sales support including product awareness training and coaching.

Neill Johnstone, Managing Director of Lorega said; “We are delighted to return to the position of BIBA scheme provider with an enhanced proposition.

“Following the FCA’s review of claims which called for an improved claims experience, BIBA members will appreciate the benefit of being able to offer their clients access to a professional Chartered Loss Adjuster, who will act exclusively for them in preparing, presenting and negotiating property and or business interruption claims.  We look forward to working with BIBA to offer these products to their members.”

Mike Hallam, BIBA Head of Technical Services added;  “We are pleased to be working with Lorega to provide our members with the option of accessing specialist loss recovery insurance covers. This will help our members to ensure claims are handled quickly, effectively and easily, at a time when their clients will really want to see the value of their insurances.”

ENDS

  1. Contacts

BIBA press office:
Pam Quinn, Communications Manager
020 7397 0223        quinnp@biba.org.uk

 

Lorega press office

Alex Wise, Concise PR

0710 665 615    alex@concisepr.com

  1. About the British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms

General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.

 

54% of all general insurance is sold by an insurance broker and they arrange 78% of all commercial insurance business.

 

3.About Lorega

 

Lorega is the UK’s leading supplier of Loss Recovery Insurance, an insurance policy which provides and pays for the cost of an independent expert loss adjuster, authorised by the FCA, to help a broker’s clients prepare, negotiate and settle their insurance claims. This cover provides expert help to the customer when they need it most. These expert services are also available on demand.

 

For further information: www.lorega.com and Twitter: @LoregaLTD