Harris Balcombe LLP’s Post

Top image is devastating, hope no one was harmed🤍

Great advice for policyholders. Well done 👏 👏

Good luck Jonny

You better win!

Good luck Jonny Sitton !!!

Suffered a disastrous fire on Christmas Eve, through no fault of our own. My goodness, I thought we were comprehensively and well insured. I am rapidly learning how murky the insurance industry can be when it comes to paying out; it's been a dishonest, dirty experience so far. I would strongly advise anyone not to meet with their insurer's Loss Adjuster without having their own Loss Assessor present from the outset. Don't even consider an initial meeting without your own Loss Assessor in attendance.

Interested to know why you say don't go to Brokers?

I understand the challenges you faced with your insurance provider in the aftermath of the warehouse fire, and I commend your proactive approach to warn other entrepreneurs about the importance of scrutinizing their insurance coverage. However, it's essential to note that insurance providers play a crucial role in assisting policyholders during difficult times. They offer financial protection and support in the event of unforeseen circumstances like fires, such as yours. Moreover, it's worth considering that some insurance companies provide in-house insurance assessors who can offer personalized and detailed guidance tailored to your specific needs. These professionals can assess your risks, recommend appropriate coverage, and provide support throughout the claims process. Engaging with such services can ensure that you have adequate coverage and assistance when you need it the most. I appreciate your advocacy for reviewing insurance policies regularly to ensure they align with your current circumstances and adequately protect your assets. By taking proactive steps to evaluate and update your insurance coverage, you can mitigate risks, protect your business, and safeguard your financial well-being in the long run.

Great job on your post and congratulations on your recovery! Unfortunately, many businesses treat insurance as an afterthought, believing it is only a box-ticking exercise to comply with legislation. They leave it entirely up to the broker to push them into getting coverage against their wishes. However, insurance should be treated as a business investment that, if arranged correctly, can provide massive protection to the policyholder. Proper insurance is one of the most crucial elements of modern business and should be given much more consideration. Sadly, there is a lack of consumer and industry awareness, with many brokers simply focused on making the sale without taking the time to meet their clients, understand their business, or even visit their insured risk. Your post does an excellent job of highlighting this issue, and I hope it helps spread the education message.

I remember this happening and how heartbroken your team were. Can only imagine the stress you have been under dealing with this. It's a similar situation with Director's insurance - so many Director's simply don't have it but will be feeling that pain if heaven forbid they or one of the other Director's gets ill or worse. So pleased to see that bottom image. Massive hats off to you all.