When does the Insured need the help of an expert?
We have explained on more than one occasion how, in the Insurance world, the occurrence of a loss event is the moment of truth. Policies are contracted in order to …
What happens when a loss event occurs in the middle of another claim?
The above does not occur often, but it does sometimes. Indeed, we have been involved in claims in which whilst the damaged machine was being transported to a workshop to …
Vagueness must be avoided when drafting Policies
For the experts, the Insurance Policy is crucial in order to be able to adjust a loss event. Therefore, when the Policy is “made to measure”, that is to say, …
What are the differences between the claim and the settlement proposal in a Material Damage loss event?
There are usually differences between the claim presented by the Insured and their expert and the loss adjustment proposed by the experts acting for the Insurers. Based upon our own …
How should an Expert Report be structured?
It is very important and desirable that the information provided by the expert to the Insurance Company and/or the Insured, depending upon who they were contracted by, is well organised …
The importance in fire claims of involving companies for the recovery and decontamination of machinery and plant
In fire claims, some assets are destroyed and, inevitably, must be replaced. Others, on the other hand, only sustain partial damage and can be recovered. Indeed, what tends to happen …
Why it is important to learn the cause of a loss event
Learning the source or root cause of a loss event is, along with the appraisal of the loss and damage, the most important task of a loss adjuster in the …
“Industrial Loss and Damage Claims” book by Roberto Revenga
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 …
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 …
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 …
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 …
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 …