The importance of finding an authorised loss assessor

Unlike a loss adjuster, who is paid by the insurance company, a loss assessor will be by your side to help you and your family from day one to completion, every step of the way. This might be locating suitable accommodation if you cannot live in the property; appointing professional teams to project manage and take control of the reparations, including the appointment a suitable contractor; and liaise with your insurance provider to ensure you get a fair and reasonable settlement, based on the terms of your policy and the extent of the works required.

But though having a loss assessor by your side is vital to ensuring your claims process runs as smoothly as possible, you must choose a professional who is listed as ‘authorised’ by the Financial Conduct Authority (FCA) to manage the different aspects of your claim.

Why is this important?

Well, in the UK, financial regulation is a big deal – and rightly so. Your insurance company may choose not to deal with a loss assessor who is not listed here, because they may not have permission from the FCA to carry out the specialised activities you’re instructing them for.

In short, it can’t be proven that they will benefit your case, or that they will be able to meet the stringent standards required to manage an insurance claim on behalf of you, the policyholder. As the client, you may not be protected in the event that an unregulated loss assessor makes a mistake or provides poor advice that derails your claim.

When navigating the register, keep an eye out for individuals or businesses that are listed as ‘Appointed Representatives’. This means they are not audited directly by FCA regulations. Usually, they are simply operating under another FCA-authorised company’s umbrella. That in isolation is not necessarily a bad thing, just be aware with whom you are entrusting, the authority and permissions they carry, the charges they make (if at all), and how they propose to add value to your claim.

Always search for the provider by name or by using their register number before appointing them to your case.

Your Claim has been trading since 2016, and has been directly authorised and regulated by the FCA since the start of 2020. If you need it, our register number is 916129.