Claims Investigation

Representation of Underwriters, Insurers, Assurers and Re-Insurers in the investigation of Claims under all types of Policies and the establishment/Investigation of Policy Liability, offering advice upon whether or not liability attaches under a given Policy.

 

The investigation of the full circumstances surrounding any given Loss, e.g., establishing how thieves or burglars gained entry to the insured Premises and/or forced open Safes or Strong Rooms etc; investigating and establishing the Seat, Cause, Spread and Stop of a Fire; determining the Cause of a Bridge Collapse or Road Wash-out;
establishing how a Bank Fraud was perpetrated, etc.


 

Loss Adjusting

As a follow-up to the above, receipt of Claim details from the Claimant; thorough and detailed consideration of Claim supporting documentation/evidences; determining the amount and the extent of the Loss, within the Terms, Conditions and Warranties attaching to the Policy in question and verifying the Claimant’s compliance - or otherwise - with any applicable Warranties, etc; verification and determination of the adequacy of the Sum(s) Insured and the application of Average, as appropriate (Pro-Rata, Declaration, First Loss, etc.).

Providing an advisory service to Insurers, etc., upon the extent of liability under the Policy and recommending the amount of Settlement, taking full account of any and all applicable Terms & Conditions, etc.

Acting as an independent, impartial and fair intermediary between Underwriters and the Insuring Public.


Risk Assessment Surveys

Risk Surveys can be undertaken on behalf of Underwriters, Brokers and/or members of the Insuring Public and involve the physical inspection of the Premises to be insured, assessing same in respect of soundness, housekeeping, security and compliance with Policy Warranties and requirements.

Assessing the probability of the insured Risk occurring (e.g., Fire, or Burglary) and assessing the probable extent of Loss, in the event of the Insured Peril taking place.

Making recommendations to diminish the probability of the Loss occurring and/or steps to be taken to reduce the extent of damage, e.g., the quantity, type and placement of Fire Extinguishment Appliances; the adequacy - or otherwise - of existing Water Supplies for Fire Fighting and steps which may be taken to improve same; the quantity, type and placement of Anti-burglar Systems, etc.

The principal purpose and aim of such Surveys is, when action taken on behalf of Underwriters, to improve the Risk and to reduce the probability of the insured event occurring, and when undertaken on behalf of the Broker or the Insured, to improve the Risk, with the principal aim of reducing premium rates.

This type of service can also incorporate Risk Management and/or Claims Advice - the former to control and manage the Risk, by means of regular Surveys and up-grading a given Risk by advising all available and necessary
measures to govern Risk Factors; the latter, in the event of the occurrence of a Loss, to advise and render assistance to the Underwriter, Broker or Claimant to fairly and equitably protect the rights and positions of Claimants and Underwriters, with a view to a fair and accelerated Settlement, within the Policy Terms and Conditions.


What is Risk Management Services?

Following on from Risk Surveys comes Risk Management and, having identified risk factors, the setting up of a well-structured & clearly defined Risk Management program, to aid in the treatment of identified risk factors, leading to the reduction of losses and the designing and implementation of appropriate employee training programs.

The provision of advice to Clients by Risk Management Consultants aims to bring about the Client’s compliance with Risk Survey recommendations, with Standards & Guidelines to provide benchmarks against the given Risk.

The adoption of a Risk Management Program can produce savings in insurance premiums, but this is not necessarily the sole aim, which should be to identify risk factors and to provide a measured and well-managed Risk with a view to providing the Client with a targeted return on equity, as physical, procedural and operational Risk Management measures aim not only to prevent losses, but also to strengthen the overall operational integrity of the Client.



Marine & Aviation – Cargo Discharge Supervision

The provision of Cargo Supervision Services, i.e., the inspection of the Cargo in the hold of the carrying vessel or aircraft, prior to discharge; supervision of off-loading; supervision of Customs Examination; supervision of Port/Airport yard transit(s) and Clearing Agents storage; supervision of Port/Airport clearance and loading onto transporter’s vehicle(s) for inland transport, to final destination; if required, continuous attendance throughout inland transportation; supervision of off-loading at the final destination and final examination of the Cargo upon arrival at the final destination.

The issuance of appropriate Short Landing/Discrepant Certificates, Protest Notices to Shippers and/or Shipping Agents, etc. Inspection/Damage Survey Reports to and/or on behalf of Assurers and/or Consignees, etc.



Valuations

Valuations can be undertaken for a variety of purposes, but usually to provide an up-to-date and comprehensive Valuation, which can be on Reinstatement Value (i.e., the current, replacement cost), Market Value (i.e., the value of a given commodity or group of commodities - Buildings, Plant & Machinery, Fixtures & Fittings, Tools & Equipment, Stocks & Raw Materials, etc., - in an open and competitive market, taking into account availability, age, condition and demand), or Indemnity Value (i.e., the value of the commodity, calculated by reducing the Reinstatement Value by known factors such as Depreciation, Wear & Tear, Obsolescence, etc.) Such Valuations can be used to determine the correct value for which the Property etc., ought to be insured - within the Terms etc., of a stated Insurance Policy, or to establish the Value of certain properties with a view to meeting the requirements of Banks and/or Financial Houses, etc., for the purposes of providing an acceptable assessment of the worth of Properties being used to secure investments/loans/overdrafts, etc.