Tag: #Asegurado #Corredor #Gerentederiesgos #siniestro #ingeniería #ajustador #Insured #Broker #Riskmanager #claim #claimsadvisor #lossadjuster #engineering

Unless our policy is at first risk or we have negotiated with the Insurer the repeal of the proportional rule, we understand that it is important to carry out a valuation of the assets, at least in an approximate way through the company’s Balance Sheet, to avoid underinsurance at the time of the claims and that this means that the totality of the damages cannot be recovered.

Subsequently, each year an update of the insured amounts would have to be made, but this would be relatively simple based on analyzing the investments and divestments of the last accounting year and the fluctuation in prices based on the IPRI indices of the INE (National Institute of Statistics).

VANTEVO is made available to the Insured to guarantee adequate insured sums that avoid the application of underinsurance in claims.

Increasingly in claims, Insured by indication, most of the time, of their Brokers hire an Adjuster to help them prepare and defend their claim against Insurers. This has obvious advantages since, on the one hand, it can help the Insured to take measures to minimize his consequential losses. It frees the Insured from the work of preparing the claim, so that they can fundamentally dedicate themselves to recovering the productive normality of their risk and contacting suppliers and customers. Likewise, as the expert is an insurance professional, he knows how to prepare a well-documented claim so that it is adjusted and verifiable and this makes the expert process more agile and allows reaching a fast and fair agreement on the corresponding compensation based on the policy.

A profesional and independent adjuster like VANTEVO helps to “solve the claim” and speed up its closing based on collaborating with the broker and the Insurers, since a claim that is well managed and closed quickly is positive for all parties involved in it.

The fundamental mission of a Risk Manager is to protect the assets and the income statement of your company and ensure the safety of its workers while they work. To do this, with the help of his Insurance Broker and his Insurer, he must implement emergency and contingency plans appropriate to the risk and negotiate coverage, limits and deductibles of the policies he wishes to contract.

In the case of a major claim, in addition to having the help of your Insurance Broker, you should appoint an Adjuster to help you prepare and defend the claim to present to the Insurers for the damages and losses generated by the claim, especially when its cost can be fully or partially assumed by the Insurer through the clause of “Insured’s expert’s fees” that is becoming more and more frequent in policies, especially in those that cover large risks.

It is important that the preparation of the claim and its defense is carried out by a team such as VANTEVO, which has professional engineers and economists who are experts in negotiations to agree on agile and fair indemnities based on the policy.

We have heard many times that if an important machine has a maintenance contract, it no longer needs to be insured for Machinery Breakdown. The foregoing is a gross error since a maintenance contract will never cover claims due to negligence of personnel (which is one of the main causes of claims). Nor will it be responsible for the consequential losses caused by a production stoppage as a result of a breakdown.

These two very important cases can be covered with a Machinery Breakdown policy and its corresponding coverage of consequential losses due to Machinery Breakdown.

That is why Maintenance contracts and Machinery Breakdown policies are complementary and never substitute for one another. Of course, it should be borne in mind that a good maintenance contract can and should reduce the premium for the Machinery Breakdown policy.

In this pandemic, it was clear that we were caught off guard, since neither governments nor the vast majority of companies had contingency plans prepared. Businesses have generally reacted effectively and quickly implemented teleworking systems where possible, which are functioning satisfactorily. We think this form of work is here to stay, which will facilitate family reconciliation and as a consequence increase the productivity of companies.

Contingency plans, also called business continuity plans, which reduce consequential losses in claims, are more effective and useful than emergency plans that reduce material damage. Unfortunately, only a minimum percentage of companies have them established and implementing a contingency plan in their companies should be a priority target for risk managers.

A pandemic is not very foreseeable, but fires, machinery breakdowns, explosions… happen every day, hence the importance of contingency plans in companies.