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When must a faulty machine be replaced?

Often we have had cases where apparently a machine has been left so damaged following a Fire or Machinery Breakdown event that it has to be replaced.  However, before taking
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Conditions in order for the Business Interruption or Consequential Loss cover to be triggered

In our opinion, there are three conditions and moreover, it is necessary that all three are met for there to be any indemnity payable under this cover. The first condition
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Are loss events “Black Swans” for companies?

As defined in 2007 by the inventor of the theory, the renowned Lebanese researcher Nassim Taleb, a “Black Swan” is an unlikely occurrence that takes us by surprise and has
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When a loss event occurs, the moment of truth

The fact is, insurance policies are contracted by companies in view of the chance that a loss event might occur causing them substantial loss and damage. If there were never
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The problem with the lack of clarity regarding the time Deductible in Loss of Profits or Consequential Loss Policies

Whenever the Loss of Profits or Consequential Loss policies issued by the London Market establish a Deductible or Excess  of, say 10 days, this is construed as being the first
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Why is Machinery Breakdown cover important for Industrial Risks?

In the insurance sector you often hear it said that if a piece of machinery has a Maintenance Contract, then it no longer needs any Machinery Breakdown Policy because the
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What is covered under a Materials Damage All Risks Policy?

We at VANTEVO routinely have meetings with leading Brokers, during which some of them tell us – half joking, half serious – that the Material Damage All Risks Policy, in
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The role of the Policyholder’s Risk, Insurance and Loss Assessor

Increasingly in cases of major claims, the Insureds – invariably at the indication of their Lawyers or Brokers – contract a Loss Assessor to help them to prepare and defend
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Incident Action Protocol

The Usefulness of an Incident Action Protocol in the event of a loss

A major loss event occurring in an industrial risk generates an emergency situation that requires emergency solutions.  With this type of company, the Consequential Losses arising out of the interruption
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