Claims Management - open to bidding

Closed Posted Sep 5, 2013 Paid on delivery
Closed Paid on delivery

Credit hire is an offshoot of accident management companies / claims management companies (CMCs). CMCs oversee a claim in their entirety. From the moment an innocent third party (client) approaches them, they get a clear understanding of the claim, report it to the third party insurer or TPI (the insurance company of the faulty driver) and arrange an engineer’s report which assesses the level of damage to the client’s vehicle. This report is then forwarded to the TPI who then agree to pay the repair costs or, more often than not, the cost of writing-off the vehicle. The CMC can also instruct a solicitor on behalf of the client in order to pursue a claim for personal injury. Solicitors used to pay a referral fee but as of the 1st of April 2013, this is no longer allowed. They get around this by paying a ‘marketing fee’ which is about half of the referral fee they used to pay.

Whilst the client does not have access to their own vehicle (as it is unroadworthy), they will be provided a hire car. This hired car is given to them on credit hence the term credit hire. CMCs usually instruct a CHO to arrange the hire and they usually get a referral fee anything from a couple of hundred pounds to a percentage of the total hire bill. Ultimately, the client is responsible for bearing the costs of the hire, however, these costs are usually recovered from the TPI. The hire continues until:

• either the client’s car is repaired in which case they come and collect their repaired vehicle and drop off the hired car

• or if they wish to nominate their own garage, they can ask for a cash in lieu payment equivalent to the cost of repair. Once they receive this cheque, hire ends immediately. The client can ask the CHO to repair the vehicle and continue to keep the client in hire until the repairs are credit out thus it is conceivable that the client’s hire does not end when the cheque is received but ends a few days later when the hire is carried out

• or, if the client’s vehicle is a total loss, the hire ends up to seven days after the cheque has been received. The seven day period allows for the client to clear the cheque and therefore be in a position to buy a car thus negating the need for a hire vehicle.

In instances where the client’s vehicle is repairable ad the client opts for us to arrange repairs and not have a cash in lieu payment, the repairs are carried out on a credit repair basis whereby the client is ultimately responsible for bearing the costs but usually we are able to claim these costs against the TPI.

If the client’s vehicle is stored, then the storage is also done on a credit basis whereby the client is ultimately responsible for bearing the costs but usually we are able to claim these costs against the TPI. It is important to note that whilst recovery can always be charged to the TPI if the client’s vehicle is not roadworthy, storage can only be charged for vehicles that are a total loss and the client does not have a safe place of free storage available to them. The exception to the rule is that storage can be charged on repairs if the TPI wishes to inspect the vehicle but takes an unreasonable time to do so. If the vehicle is sat at a garage taking up space, then the garage is allowed to charge for that space.

It is important to note that the client is ultimately responsible for bearing any costs relating to credit hire, credit storage or credit repair as otherwise the agreement with the client is unenforceable.

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Project ID: #4900098

About the project

3 proposals Remote project Active Oct 12, 2013

3 freelancers are bidding on average £1077 for this job

bistanil98

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