Freemans Australia
From Wikipedia, the free encyclopedia
| Freemans Australia | |
|---|---|
| Type | Claims Adjuster,Loss Adjusters, Insurance |
| Headquarters | Sydney Head Office, 34 Chandos St, St Leonards, NSW 2065 |
| Location |  Australia, New Zealand |
| Staff | Over 300 staff around Australia and New Zealand |
| Website | [http://www.freemans.com.au/ |
Contents |
[edit] Overview
Freemans is a claims management and loss adjusting organisation in Australasia. It is an Australian-owned and managed firm. Freemans employs over 300 claims professionals in more than 50 offices across Australia.
[edit] History of Freemans
In 1989-1990, Lee Cooper was a National Director and Victorian President of what was then known as the Australia Institute of Loss Adjusters (later to become Australasian Institute of Chartered Loss Adjusters). Lee arranged to establish a Tasmanian Division of the Institute where he met Graeme Ervin who was a director of a Hobart Business UAB Adjusters. Lee was in partnership with David Johnston in the Melbourne based business Cooper & Johnston Loss Adjusters
Through that association Cooper and Ervin discussed the prospects of developing an alliance with their respective business in Victorian and Tasmanian. Although nothing initially developed, the idea of developing alliances with other firms in capital cities was discussed. At that time, there were in excess of 600 adjusting firms in the country. Most were small, however MBS Loss Assessors P/L (before becoming GAB Robins) had established a national presence and was clearly the market leader. At the same time, some insurers had began relocating their head offices to Sydney and there was evidence of some consolidation in the market.
Cooper, Johnston and Ervin were convinced that developing a national presence in the form of a close alliance with interstate colleagues would provide some mutual benefits. Accordingly, in early 1991, Cooper approached a number of his colleagues who were members of the National Executive of the Institute; Messrs Ian Nowland (Nowland & McCosker Adjusters P/L, of Brisbane), Stephen Lord (SJ Lord & Associates P/L of Sydney) and Graham Tubby (National (West) Loss Adjusters P/L.
A meeting was convened in Sydney to discuss the formation of a national alliance. Those in attendance were, Messrs Ervin, Cooper, Nowland, Lord and Tubby. It was agreed that the concept had merit and should be pursued. A second meeting was later held in Melbourne and those persons were joined by Greg McCosker (Qld), David Johnston (Vic) and Hugh Robertson (Tas). A second meeting was then held in Launceston to develop the concept into reality.
A further meeting was held in Melbourne whereupon agreement was reached to form an alliance, which would work under the same banner, the same report formats and would help each other to develop a national approach to marketing and business development. A Heads of Agreement was prepared and signed and the only outstanding matters to be decided were the name of the organisation and a commencement date.
The company was formed in June 1991.Stephen Lord was elected as the inaugural Chairman and all mentioned persons were appointed as Directors. The choosing of a name was not easy. Graeme Ervin after some research suggested the name Freemans. The name Freemans is borrowed from Colonel Freeman, a successful Australian loss adjuster of the late nineteenth century, whose conduct in his profession established a high standard for his contemporaries and successors.
Freemans Australia P/L was officially launched on 14th October 1991 at an industry function held at the Swanson Hotel in Melbourne. The company was then owned equally by UAB Assessors P/L, Cooper & Johnston Loss Adjusters P/L, Nowland & McCosker Adjusters P/L, Stephen Lord (SJ Lord & Associates P/L and National (West) Loss Adjusters P/L. Each firm traded as Freemans Australia.
A formal agreement was entered into between the shareholders as to the manner in which each would be bound by the rules of Freemans Australia. The combined turnover of Freemans at inception was about $3million. Since the launch Freemans initially expanded by introducing other shareholders into the company.
Growth initially came by introducing and offering other firms a share in Freemans Australia during 1992. This led to the development of a regional network initially from the Gold Coast, Toowoomba, Rockhampton, Lismore/Taree and Tamworth/Inverell. In that same year, Greg McCosker and Hugh Robertson travelled to North America to explore networking opportunities. This led to a Canadian group, Interspect (later to become part of Cunningham Lindsay) who became Freemans first international connection. Management of the group was by the shareholders who met twice yearly to develop strategy and to review progress.
In 1993, Freemans formed a loose affiliation with UK adjusters Ellis & Buckle, (also became part of Cunningham Lindsay Group) whilst shareholders were introduced in Adelaide,Darwin, Bundaberg and Mackay,followed in 1994 with the introduction of Geraldton and Gosford. 1995 saw Geelong and Launceston come on board. A management Committee was formed to streamline decision-making.
In 1996, Freemans appointed it’s first administrator Gordon Dowell, who was later to become CEO of the group. Wollongong, Canberra, Mt Gambier, Warrnambool and Albury joined with turnover reaching a combined $5million. Cairns joined in 1997, as did Hurstville. Geoff Jackson (Melbourne) replaced Stephen Lord as Chairman of the Board. Shortly thereafter, he retired and Tony Button acquired his business. A hailstorm in Armidale was the first event that Freemans responded to as a group. Adjusters from a range of offices around the country flew into northern NSW to help.
By 1998, Freemans was making a mark on the market. A substantial network of offices had developed across the country. A second full time administrator was appointed, Bill Hearn as General Manger. Lee Cooper replaced Geoff Jackson in the chair. Gosford, Bundaberg, Hervey Bay and Gladstone joined the group. An IT Manager was also recruited to manage and further develop a computer based file management system FreeNotes, that the group had developed and implemented. Natural disasters occurred in Wollongong with floods.
1999 was a year of significant growth and development for the business. The Sydney hail storm was the largest natural disaster of the decade. Tony Button managed the event and the entire network was marshalled to assist. The market gained confidence in the ability of Freemans to provide excellent service under extreme circumstances. In the same year, Freemans recruited for the first time an independent Chairman of the Board, John Crawford formerly of GIO. Newcastle was the only new office in that year.
The millennium saw further changes to the group including the appointment of Gordon Dowell to the position of CEO. He replaced Bill Hearne. Euroa, Townsville and Coffs Harbour were the new offices. Turnover had reached $20million, 40 offices were in the network, some 310 people were engaged in either full or part time work and 18 shareholders working in the business. Freeman claimed the number 2 position (measured on number of offices/turnover) in the market where it has remained ever since.
[edit] Services
- Agricultural services
- Catastrophe support
- Claims management
- Commercial
- Domestic
- Freemans expertise
- Investigations
- Liability
- Litigation support
- Marine
- Motor & machinery
- Pre-loss risk surveys
- Project management
[edit] Offices
- Auckland, Christchurch, Wellington
- Perth, Albany, Bunbury
- Melbourne, Bairnsdale, Ballarat, Euroa, Geelong, Mildura, Moe, Shepparton, Warrnambool
- Hobart, Burnie, Launceston
- Adelaide, Kadina, Mount Gambier, Port Lincoln, Riverland
- Brisbane, Caboolture, Cairns, Gold Coast, Hervey Bay, Ipswich, Mackay, Rockhampton, Sunshine Coast, Toowoomba, Townsville
- Darwin, Alice Springs
- Sydney, Albury/Wodonga, Ballina, Canberra, Central Coast, Coffs Harbour, Dubbo, Inverill, Newcastle, Nowra, Port Macquarie, Tamworth, Taree, Wagga Wagga, Western Sydney, Wollongong
[edit] Loss Adjusters
1. Definition of Loss Adjusting
When an insured person suffers loss, they claim on their Insurance Policy with an Insurer, to cover the loss. The losses to be covered to restore them to their pre-loss position, subject to the conditions of the Policy.
Loss adjusting is about fulfilling the terms and conditions of the Insurance Policy on behalf of the Insurers. The claim should be conducted in a fair and reasonable manner. When a loss is suffered, the Insurer needs to investigate the nature of claim, in order to determine its extent of liability.
2. What is a Loss Adjuster?
A loss adjuster is someone who acts on behalf of the Insurers to assess, investigate, verify, estimate and adjust losses of the subject matter of insurance.
A loss adjuster must have a wide range of knowledge in other businesses, not limited to the insurance field. A loss adjuster must have full technical knowledge of other areas, such as construction works, marine, motor vehicles, property and agriculture in order to have a clear understanding of the terms, conditions and exclusions of the policy. Loss adjusters can also be required to conduct valuation and risk assessment.
A loss adjuster is a specialist required to have technical, insurance and legislative knowledge.
