horwich farrelly

Recoveries

Horwich Farrelly has been undertaking recoveries work for a number of years and secures many millions of pounds per annum for clients.

insurance

THE recoveries SPECIALISTS

 

In 2014, the average cost of an insurance-funded accident repair was £1,380*.

Despite UK motor accident frequency reducing over recent years, a forecast lack of future capacity in the UK bodyshop market is likely to result in increasing vehicle repair costs overall for many insurers.

The financial benefits of a formal recoveries programme in terms of improved cash flow and contribution to the bottom-line are therefore clear to see.  In addition, the ability to reinstate policyholder no claims bonus quickly following a recovery can significantly influence customer perception and hence retention.

Whilst many insurers have dedicated or semi-dedicated in-house recoveries teams the changes introduced by the RTA Claims Portal and developments in case law have emphasised the need for recovery processes to be as timely, cost effective and adaptable as possible.  Even a small improvement in the ‘leakage’ rate arising from non-pursued or unsuccessful recoveries can have a significant positive financial impact.

Horwich Farrelly has been undertaking recoveries work for clients for a number of years and we offer a dedicated team with more than 80 man-years of specialist industry experience. The results we are obtaining for clients speak for themselves.

Recoveries Emphasis 1

*Trend Tracker, ‘The Future of the Car Body Repair Market 2015 -2020’

Maximising recoveries whilst minimising case lifecycles and fees

Because our team are 100% dedicated to recoveries and working for a number of clients we are able to readily identify market trends and monitor case law to ensure we continually adapt our processes to obtain the best results.   As part of our service we can also provide bespoke training for client claims teams to improve the identification of cases suitable for recovery action.

It is not always immediately apparent whether a recovery opportunity exists, particularly where liability is disputed or the accident circumstances are not clear.  We can deal with recoveries at various points in the claims lifecycle.  However, in our experience, the chances of successful recovery are dramatically improved if the process is triggered as soon as possible after first notification of loss.

Our aim is to pursue recovery action wherever viable.   A bespoke case management system ensures that all necessary case actions are undertaken in line with best-practice and client requirements. The system also assists in driving cases to resolution in a proactive manner to minimise lifecycles.

We are always alive to protecting the position of your policyholder and will include any uninsured losses within a recoveries claim at no extra cost.  In addition, when a case litigates we will not only seek a cost award but also interest on the outstanding payment – which in many cases will more than cover Horwich Farrelly’s fee.

Recoveries Emphasis 2

We are happy to undertake a review of live files to identify any potential recoveries. No charge would be made for this service as long as we were instructed on any cases identified as viable options.

 

Contact us

If you would like further information about any of our specialists or the services we offer please get in touch.