In his Book “Industrial Loss and Damage Claims, published by AGERS, the author Roberto Revenga analyses real claims and the main covers that industrial firms require. He stresses the need for the policies to be “made to measure”, that is to say, that they should be tailored to the risk that they want to cover. Also, that they should be drawn up with major loss events in mind, which is when they will have to function properly, in order for which it is essential that the Sums Insured are updated.
Likewise, the book highlights that with the “lessons learned” that arise out of each claim, the safety conditions of the risk and the policy covers can be improved upon, in such a way that after a lengthy process of years of analysis of the causes and constant improvements, the risk situation and the policy covers might be optimised.
As regards the cover for Consequential Losses, emphasis is placed on the need to examine the Sum Insured, the Maximum Indemnity Period and the appropriate Deductible, stressing that this will only work in those claims where there is an impact upon the financial results, which does not usually happen in loss events with a short duration.
This book will be particularly of interest for those persons embarking upon the complex world of insurance, and can be acquired from AGERS (Libro físico – Siniestros de daños y pérdidas en la industria – AGERS) who publish it in Spain.