Insurance services

Tender description

National Rail require a supplier to act as loss adjuster and investigate both policy liability and quantum in connection with the property damage, business interruption, third party and industry liability. In addition, to report to Network Rail in respect of these aspects. Typically Network Rail will instruct the loss adjuster in the event of a potential claim for the property damage, business interruption and industry liability to deal with claims as per the follow financial boundaries: — property damage and business interruption claims from 2 000 000 GBP to 50 000 000 GBP, — industry liability claims from 250 000 GBP to 5 000 000 GBP. Network Rail retain the right to instruct below the lower financial boundaries noted above or not at all. Losses estimated to be or to have the potential to be between 2 000 000 GBP and 50 000 000 GBP will normally result in the instruction of the adjuster by means of a loss notification form which is to be e-mailed directly to the adjuster, and Network Rail Group Insurance. The adjuster may be instructed by telephone in exceptional circumstances. The adjuster shall represent Network Rail in investigating and recommending on the level of liability and quantum in respect of property damage, business interruption and industry liability. The service is expected to be provided for an all-in agreed hourly rate irrespective of the type of work undertaken. The time expended dealing with the claim should recognise the complexity and value and should at all times seek to provide and demonstrate value for money. The service requires the claim to be controlled by and the direct involvement of a chartered loss adjuster of suitable experience and seniority commensurate with the complexity and value of the claim. Other junior loss adjusters are not acceptable. There is no guaranteed volume of claims/volume of work but it would not be untypical for this to be 20 claims per annum.