Lloyds Delaying Payment on Many Claims

Originally published by Patrick McGinnis.

Lately I have had several public insurance adjusters call me about a specific problem with Lloyds.1 The public adjuster and the Lloyds (third-party) adjuster agree on the scope and amount of damages on a claim. Then Lloyds never pays. It’s not that Lloyds refuses to pay. They just don’t pay, like for a real long time. Usually there are lots of comments about Lloyds being across the pond and time differences and things like that, but this is not 1492 when Columbus sailed the ocean blue. We are in the age of air travel, FEDEX, the Internet, bank wiring funds, etc. Hell, I went to the much-maligned US Post Office the other day to send something to the UK and even the US Post Office got it there in five days.
What is strange is that even though Lloyds is a loose conglomerate of syndicates, I am seeing a pattern in this failure to pay. There is a trend by Lloyds not paying agreed scopes. I have a case on file right now where its been a year and Lloyds’ has not paid. In…

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