From 259 business interruption (BI) claims handled in the February 2019 to March 2020 period, loss adjusting firm Woodgate & Clark has seen a 2,300% surge in the corresponding figure for March 2020 to February 2021.
In a release, the Kent-based business said its BI caseload “shot up” to nearly 6,000.
“We have worked our way through 75% of the caseload and expect to have completed the majority of this process by the end of the summer,” noted Woodgate & Clark BI claims unit head Julie Groves (pictured), who believes the game-changing volume offers plenty of learnings in loss adjusting.
“Dealing with this has been a massive challenge and an incredible learning experience for us all. Of course, business interruption is additional to the recent flooding and other perils we have managed on behalf of our clients.”
According to Groves, each case they handle is assigned to a named adjuster who follows through from start to finish. From the perspective not only of customers but also insurers, the unit head is of the view that this approach is the best way to go.
Groves came onboard Woodgate & Clark in February 2021.
She said: “Policyholders feel looked after; they can ask questions and get the right information from a real person, which makes sense because these are complex claims, especially as we’ve needed to navigate our way and develop procedures not just with insurers but with their legal teams as well.”
The legal input, added Groves, has been helpful in applying the test case ruling. Meanwhile, she also highlighted the need for such policies to be clearly explained to policyholders.
“Some of our adjusters had not done a huge volume of BI before the crisis, so our BI knowledge massively increased and that is a good thing for everyone, especially as we’re not out of the COVID-19 woods yet,” added Groves, who is “hugely proud” of the adjusting team.
