The chairman of loss recovery specialist Lorega, Malcolm Harvey, has welcomed the fact that a competitor, DAS, has entered the loss recovery market.
Harvey said that he is a great believer in open market competition.
“Having established the loss recovery market some fifteen years ago we have been expecting a second player for some time now and, of course, imitation is the sincerest form of flattery,” he said.
“The impending DAS launch absolutely validates everything we have been doing since 1997 and will certainly create even more market and public awareness. From our perspective, this move by a major German insurer elevates Lorega and our product into mainstream insurance. It also demonstrates very clearly the growing need for an underwritten product that provides a loss adjuster to help commercial and HNW policyholders with their claims submission in the event of a major loss.”
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Lorega, Malcolm Harvey, loss recovery, DAS