Castlemead Insurance Brokers recently took a weekend phone call from a client who had
the misfortune to be the victim of an arson attack. Once the fire brigade had
departed, we calculated an anticipated loss of £150,000, with a requirement for
an interim payment to keep the cash flow in order.
The insurer concerned issued the required cheque within the
required timescales as at the loss adjuster meeting which we attended we were
able to prove:
Sums insured were adequate and had been recently reviewed
Policy conditions had been complied with including: -
- Waste warranty
- Claim reporting condition
- Perimeter security in line with facts disclosed
- Proposal form declarations were accurate
- Business description matched the clients activities
- Business Interruption declaration supplied within the specified timescales
- Estimated Gross Profit figure therefore up to date
Had the fire occurred at your premises, are you confident
you would have achieved the same result with your broker?