{"id":4102,"date":"2022-03-01T09:09:41","date_gmt":"2022-03-01T02:09:41","guid":{"rendered":"http:\/\/ligaasuransi.com\/?p=4102"},"modified":"2022-03-17T09:17:02","modified_gmt":"2022-03-17T02:17:02","slug":"asuransi-alat-berat-broker-vs-loss-adjuster","status":"publish","type":"post","link":"https:\/\/ligaasuransi.com\/en\/asuransi-alat-berat-broker-vs-loss-adjuster\/","title":{"rendered":"Heavy Equipment Insurance \u2013 Broker vs Loss Adjuster"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"http:\/\/ligaasuransi.com\">Liga Asuransi<\/a> &#8211; Dear readers, how are you? This article is a continuation of some of our previous articles on heavy equipment insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This time we will discuss <strong>Insurance Broker vs Loss Adjuster<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Seeing this title you might imagine that there is fierce competition between insurance brokers and loss adjusters.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Please note that an insurance broker is an insurance expert who is on your side (the insured) while a Loss Adjuster is a service company appointed by an insurance company to assess losses\/claims that occur.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both will be involved in the settlement of claims. Each has different duties and responsibilities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As we often write, the risk of heavy equipment is high, as the name implies. In contrast to other insurance such as motor vehicle insurance. The potential for accidents and the value of losses incurred is large.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, insurance coverage for heavy equipment must be &#8220;proper&#8221; or perfect. Always see that insuring heavy equipment is important to protect your assets and finances. Not just as a fulfillment of contract requirements or because of the unpleasant factor with the person who offers insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you can, forget about the &#8220;fee-based income&#8221; element of heavy equipment insurance transactions because it can burden the insured and reduce insurance coverage.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don&#8217;t be too calculating with premiums, limits and deductibles because all of that will have an impact on the amount of claims you will get.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following are things to consider, including the extent of the guarantee.<\/span><\/p>\n<ul>\n<li><b> All Risks and Total Loss Only.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">All Risks are all risks and accidents that occur suddenly. Replace all repair costs or damage and loss unless the amount is at your own risk (deductible).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Total loss only is insurance reimbursement if the damage occurred in its entirety (total). If the damage is only partial then it cannot be claimed to the insurance company.<\/span><\/p>\n<ul>\n<li><b> Terms and Conditions<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Even though you have chosen the widest guarantee, namely All Risks, it does not guarantee that the insurance is maximum and the most extensive. This requires knowledge and ability to negotiate with insurance companies.<\/span><\/p>\n<ul>\n<li><b> Selection of Insurance Company<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Due to the high risk, not many insurance companies offer insurance coverage for heavy equipment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, we need to be careful in choosing the insurance company to use. The company must be financially strong, have experience in heavy equipment insurance and be known to have a good attitude in terms of claim settlement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All of the above requirements can only be obtained by using the services of an insurance brokerage company experienced in heavy equipment insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Insurance brokers are insurance experts who are on your side (In house insurance consultant). Who will defend all your interests in insurance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Not only that, insurance brokers will also take care of claims in the event of an accident.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, make sure that your heavy equipment insurance transactions always use the services of an insurance broker. Avoid insuring directly with the insurance company or through an agent. So that you can get the maximum insurance claim.<\/span><\/p>\n<p><b>How to Manage Heavy Equipment Insurance Claims?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Well, when an accident occurs, this is where the role of insurance brokers and loss adjusters is needed. Insurance claims can be divided into two, small claims and large claims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Small claims may be done by the insurance company without the help of a loss adjuster. For example if the claim is under USD 7,500.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But if the number of claims is greater than that, let alone the total loss, usually the insurance company will appoint a loss adjuster.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Loss adjuster is an independent company that gets special permission from the Financial Services Authority (OJK) as a loss assessor for the benefit of the insurance company that appointed it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Loss Adjuster has complete expertise in terms of knowledge of insurance science, insurance principles, insurance policy coverage and matters relating to insurance policy requirements. Thus they can issue a recommendation whether a claim can be claimed (claimable) or not (unclaimable).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, the Loss Adjuster also has good technical knowledge so that it can assess the damage that occurs quickly and fairly. How big the damage, what parts were damaged and repair solutions so that the heavy equipment can return to operation as before the accident.<\/span><\/p>\n<p><b>Insurance Claims Settlement Process<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Immediately after an accident occurs, the report has been received by the insurance broker. If the insurance company decides to appoint a loss adjuster, then since then you are no longer in contact with the insurance company but with the loss adjuster.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even agents or people in insurance companies that you know well so far can&#8217;t help because the next process is in the hands of the loss adjuster.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you use the services of a broker, your insurance broker will be in touch with the loss adjuster for claim settlement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Usually the insurance broker when first placing the risk to the insurance company includes a Nominated Loss Adjuster clause. With this clause, the broker proposes the names of the loss adjuster companies that will be used by the insurance company in the event of a claim, usually 3 or 4 loss adjusters, in general the proposal can be accepted by the insurance company.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Insurance brokers certainly have good reasons when proposing these names. Especially the loss adjuster who is well known by the broker, has experience working together successfully on previous claims and the loss adjuster who has a good track record.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now with the nominated loss adjuster, of course, it will make it easier for brokers to communicate to process further claims because the broker and the loss adjuster already know each other and understand everything needed to settle claims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the claim process, it is difficult to avoid a heated argument between the broker and the loss adjuster. Both have a balanced level of knowledge, experience and solutions. Because both have expertise certificates recognized by the OJK.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sometimes it takes several meetings and by presenting experts from each party until finally the best solution is found.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Imagine if the insured (you) yourself takes care of the claim, of course you can imagine how difficult it is for you to fulfill the claim requirements and face a loss adjuster request.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So for the settlement of insurance claims, especially for heavy equipment insurance claims, the role of the broker is very important.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For insurance companies, appointing a loss adjuster is also beneficial because they don&#8217;t lose a lot of time completing claims that are so complex that they can do other tasks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the results of the assessment or loss adjustment report issued by the Loss Adjuster are reliable or trustworthy. This makes it very easy to process claims payments from reinsurers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Usually, if an insurance claim is handled by an insurance broker and in collaboration with a professional loss adjuster, a claim can be settled within 3 to 6 months. A reasonable period of time because there is a process that must be passed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But if you don&#8217;t use a broker, the time may be much longer and the claim may not be optimal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the <a href=\"http:\/\/lngrisk.co.id\">insurance broker<\/a> companies with extensive experience in heavy equipment insurance is <strong>L&amp;G Insurance Broker<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For all your company insurance needs, contact L&amp;G now!<\/span><\/p>\n<h3>\u2014<br \/>\nLooking for Insurance Products? Don&#8217;t Waste Your Time and Contact Us Right Now<\/h3>\n<h4>L&amp;G HOTLINE 24 HOURS: 0811-8507-773 (Call &#8211; Whatsapp &#8211; SMS)<\/h4>\n<p>website: lngrisk.co.id<\/p>\n<p>E-mail: customer.support@lngrisk.co.id<\/p>\n<p>&#8212;<\/p>","protected":false},"excerpt":{"rendered":"<p>Liga Asuransi &#8211; Dear readers, how are you? This article is a continuation of some of our previous articles on heavy equipment insurance. This time we will discuss Insurance Broker vs Loss Adjuster. Seeing this title you might imagine that there is fierce competition between insurance brokers and loss adjusters. Please note that an insurance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[105,396],"class_list":{"0":"post-4102","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-heavy-equipment-insurance","8":"tag-asuransi-alat-berat","9":"tag-heavy-equipment-insurance"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/comments?post=4102"}],"version-history":[{"count":1,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4102\/revisions"}],"predecessor-version":[{"id":4104,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/posts\/4102\/revisions\/4104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media\/4103"}],"wp:attachment":[{"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/media?parent=4102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/categories?post=4102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ligaasuransi.com\/en\/wp-json\/wp\/v2\/tags?post=4102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}