STOCK

The value of the stock would then be established at the date of the loss. The claim would be submitted and negotiated directly with the Loss Adjuster appointed by Insurers and the optimum settlement would be achieved.

Buildings

We would establish the cost of the reinstatement of the damaged building by either preparing a detailed budget cost or by liasing with the design team appointed to reinstate the building. Should a market valuation be required in the event of the insured not wishing to reinstate then this would be obtained. Initially the scope of works would be agreed with the Loss Adjuster.

Plant & Machinery

The plant and machinery would be examined to ascertain if restoration were possible or whether it needed replacing. Reports would be obtained from the manufacturers or specialist restoration companies and these would form the basis of this claim. The lead time of the replacement machinery would also be established and the Plant and Machinery register examined. Thereafter a claim would be prepared and negotiated with the appointed Loss Adjuster.

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Business Interruption

The Business Interruption policy deals with four sections:

Each section would be continually monitored throughout the Indemnity period with interim claims being submitted to assist with cash flow. This claim can often overlap with aspects of the material damage claim. The historical turnover of the business achieved would be reviewed along with the current budgets and in management figures. Thereafter this part of the claim would be prepared, submitted and negotiated with the Loss Adjuster.