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Salmon Leaps to the Defence
JEFFREY Salmon has been a thorn in the side of insurance businesses for 20 years. It started when Salmon, a former valuer at auction house Sotheby`s, was working as an antiques dealer. He encountered difficulties with a claim when he sent a consignment of antiques to New York .`Almost everything arrived broken`, he says. `I was not sure what to do, but my parents suggested appointing an assessor. I did, but he made me feel uncomfortable. He tried to make me lie and inflate the claim out of all proportion. That frightened me, so I decided to deal with it myself. I did all the hard work of organising valuations and chasing the claim. The loss adjuster appointed by the insurer offered me £8,000 which was way under. In the end, through negotiation and persistence I received £36,000`.
He decided to do the same for other people and now runs Salmon Assessors based in north London started dealing with antiques claims but became inundated with domestic and commercial claims`, he says. In the mid-Eighties Salmon even had his own radio phone-in slot advising people on insurance claims. Most loss assessors prefer to take on commercial work because the fees are higher. Salmon says: `I prefer to take on ten claims of £10,000 rather than one of £100,000 because the more people you deal with, the more your name gets around. Two years ago, we were taking on about nine new claims a week. We are now a franchise and take on 70 a week. In most cases, we receive a bigger settlement than the policyholder would have alone`.
Salmon explains: `Few people know about using assessors to deal with claims. We are often approached when policyholders are knee-deep in the mire with their claims and have said all the wrong things. Many claimants think insurance companies are crooks in bowler hats and feel powerless against them. But we try to persuade them not to be intimidated. We ensure that the claimant gets every penny he or she is entitled to under the terms and conditions of his policy. We are not there to rip-off insurance companies. As professional valuers we understand what a particular claim is worth`, he says. Over the years Salmon has seen insurers get tougher on claims. He says: `Companies will replace goods rather than give the claimant money. This is because they have deals with suppliers which cuts costs for them. But many policyholders want to make their own choices`.
He decided to do the same for other people and now runs Salmon Assessors based in north London started dealing with antiques claims but became inundated with domestic and commercial claims`, he says. In the mid-Eighties Salmon even had his own radio phone-in slot advising people on insurance claims. Most loss assessors prefer to take on commercial work because the fees are higher. Salmon says: `I prefer to take on ten claims of £10,000 rather than one of £100,000 because the more people you deal with, the more your name gets around. Two years ago, we were taking on about nine new claims a week. We are now a franchise and take on 70 a week. In most cases, we receive a bigger settlement than the policyholder would have alone`.
Salmon explains: `Few people know about using assessors to deal with claims. We are often approached when policyholders are knee-deep in the mire with their claims and have said all the wrong things. Many claimants think insurance companies are crooks in bowler hats and feel powerless against them. But we try to persuade them not to be intimidated. We ensure that the claimant gets every penny he or she is entitled to under the terms and conditions of his policy. We are not there to rip-off insurance companies. As professional valuers we understand what a particular claim is worth`, he says. Over the years Salmon has seen insurers get tougher on claims. He says: `Companies will replace goods rather than give the claimant money. This is because they have deals with suppliers which cuts costs for them. But many policyholders want to make their own choices`.
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