Family business takes stress out of insurance claims

The McCormack family prides itself on taking the stress out of insurance claims, with the business AIA Loss Assessors standing in your corner in your time of need.

AIA Loss Assessors was founded in Mayo in 2010 by Pat McCormack, with his kids, Sam, Brian and Rebecca, all playing their role in the business. It specialises in supporting homeowners and businesses dealing with insurance claims.

Within the past 12 months, Sam has expanded the business to the Midlands from a new Athlone base.

The move was a natural one, with Sam’s wife Emily Henshaw hailing from Coosan, and Sam having studied at TUS Athlone.

He said that connecting with local business owners through Athlone Chamber of Commerce has been key to their growth, as well as getting in touch with local brokers and tradespeople.

"It has just begun to snowball since then," Sam said, noting that the next step is to establish a physical office space in the town.

"The nature of the work is remote, as we spend a lot of time on the road, but it is definitely our next step to have that physical presence."

Having gained experienced while living abroad in Sydney, Sam has worked within the family business since 2020.

Speaking about the loss assessment business, Sam said: “Most people don't understand the ins and outs of claims, and can feel overwhelmed when a claim begins. Our role is to take that pressure away, to manage the process, gather the evidence and negotiate on their behalf. It is about making sure they are treated fairly and that they are in a position to reinstate their home properly.”

The company deals with homeowners, businesses, farmers and agricultural businesses, larger companies facing major losses or who may have to close due to damages, and those experiencing total loss after suffering a fire.

"If someone has suffered damage, and believes they may need to make an insurance claim, their best interest is to contact a loss assessor first," Sam said.

"When a pipe bursts or a fire happens, people assume the first step is to contact their insurer. The insurance company will appoint an adjuster to look after their own interests. We come in to represent the policy holder, making sure they receive what they are entitled to."

The work involves much more than simply assessing visible damage, with Sam explaining that identifying problems which might otherwise go unnoticed is an important part of the process.

“After a fire, there could be smoke damage throughout a property that isn't immediately obvious. Similarly, a leak can cause significant hidden damage,” he said.

AIA uses up-to-date technology, including drones and moisture meters, to gather evidence and identify damage that might not be visible to the naked eye. The company also assesses the damage, prepares technical reports, manages contractors, and obtains quotations before negotiating directly with insurance companies on behalf of its clients.

Another area which the company is seeing increasing demand is underinsurance, where a property is insured for less than its actual rebuilding value. Many homeowners only discover they are underinsured when they make a claim, at which point their settlement may be reduced in line with the level of cover they have in place.

“Underinsurance is something we're seeing quite a lot of nowadays,” Sam said. “Unfortunately, many people only discover this when it's too late, after they've already made a claim and the insurer has assessed the level of cover in place.”

AIA also carries out rebuild valuations, advising property owners on how much their homes or businesses should be insured for to ensure they have adequate protection.

Sam encourages people to consider the worst-case scenario when reviewing their insurance policies. “If your house burnt down tomorrow morning, would your insurance policy cover the complete cost of rebuilding it? Ultimately, if you suffered a total loss, would your policy put you back in the position you were in before the incident happened?”

As well as helping clients with existing claims, the company provides advice on insurance cover, including storm and flood protection, business interruption and the particular conditions that can apply to unoccupied properties and holiday rentals.

Sam's message to anyone dealing with property damage is to seek advice before navigating the insurance claims process alone.

"The consultation is free, and it's a no-win, no-fee arrangement, so they have nothing to lose, and we can explain their options."

Having established a base in Athlone, Sam is keen to continue building relationships in the community.

“Our business is really built on word of mouth. If someone recommends you to a client and you look after them and do the best you can, that recommendation spreads,” he said.

For more information, go to https://aia.ie/, or contact Sam by phone at 087 475 9827 or email at sam@aia.ie