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What Does a Property Loss Consultant Do?

REPRINT FROM THE INTEGRAL NEWSLETTER

Over the months, we have been asked numerous times “What does a Property Loss Consultant do?” “Who are you?” “Doesn’t the adjuster do that?” “Doesn’t the contractor do that?” “Isn’t it up to the insured to do that?” etc.

My favorite is “Aren’t you a Public Adjuster?” Well the answer to this is a categorically ………. “NO”. And neither the adjuster, the contractor nor the insured can do what we do. We are building loss specialists.

Restoration services are dramatically changing from what they were 10 even 5 years ago. More and more consultants are now involved in the restoration process of a fire or water damaged building. The contents replacement services as we knew it is changing. Obtaining replacement estimates for large schedules from suppliers is becoming a service of the past. Even obtaining a simple police report has even becoming a chore for the adjuster to obtain.

Years ago, the term “Loss Consultant” was closely tied in with a public adjusting firm, but that is not the case today. The term is a general description for property loss specialists usually emanating out of the insurance industry. These individuals usually have years of experience behind them as insurance company executives and managers who have a wealth of knowledge that they can bestow on behalf of the consumer or the underwriter. They can aid in numerous areas including loss prevention, insurance buying, assisting in statement of values, assisting in providing a reasonable and sufficient proof of loss etc.

Another question asked quite often was “Who pays for your fees?” This question made us research who paid for our services whether we were retained by the consumer, the insurer, the independent adjuster, or the broker. Surprisingly enough it was the insurer who issued the cheques for our services over 90% of the time over the past 10 years. Our fees formed part of the administration cost of the underwriting or claims service.

Each consulting firm provides different services depending upon the experience of the professionals in the firm. Here are the services that Integral Building Loss Consultants provides.

OUR APPRAISAL SERVICES

  • Our Underwriting Appraisal Report (UAR) provides an underwriter, broker or consumer with full Replacement Cost, Building Code Upgrade, Municipal Bylaws, Green Technologies, Emergency Service, Building Stability, Building Security, Abatement, Deconstruction, Demolition, Debris Removal, and Projected Catastrophic Values to ensure you have sufficient limits on the insurance policy.
  • Our Loss Appraisal Report (LAR) provides an adjuster or consumer the current values as the UAR after a loss occurs to determine payout after an insured loss.
  • Our Damage Assessment Report (DAR) provides an unbiased Scope of Damage, and an Assessment of Restoration cost to provide an adjuster or consumer with documentation and budget in order to obtain compatible bids from restoration contractors.

OUR INSPECTION SERVICES

  • Our Conditions of Risk Inspection Report is designed for loss prevention for a consumer and will optionally include a Damage and Improvement Assessment.
  • Our Underwriting Inspection Report is designed for risk submission to an underwriter and will optionally include a valuation of the building.

OUR MANAGEMENT SERVICES

  • As a Restoration Manager, we will scope the damage, assess the conditions of the risk, estimate the cost or repair, provide a schedule of the work to be performed, provide all necessary loss reports and revisions, qualify the contractor and sub trades, and obtain WCB and CGL certifications, negotiate permits, attend all site meetings with engineers, inspectors, etc., site supervision, quality control inspections, etc., provide weekly status reports, until the completion certificate is signed and the deficiencies are corrected to the satisfaction of the insured.

OUR ABRITRATION SERVICES

  • Our Conflict Resolution Service assists the consumer in providing a reasonable sufficient proof of loss in order to substantiate their claim including investigating the loss in order to provide the facts, verify the quality of assets, assist in completing a statement of values, assist in completing a proof of loss, assist in presentation of the proof of loss, oversee the completion of the restoration process, oversee the distribution of funds and maintain management of loss until it is completed.
  • Our Dispute Resolution Service represents the consumer, or insurer in a pre-litigation circumstance and we can act either as an appraiser or umpire.

Integral were consultants for the Grimshaw tornado, the Northern Alberta windstorm, and the Barriere – Kelowna fires in 2003 and have been serving Western Canada since 1992.

For more information please visit our website at www.integralconsultants.ca or email us.