Loss of business turnover, and increased costs of working, as a consequence of insured, material damage to property.
Physical damage, loss or destruction to a building and its contents caused by fire, flood, storm, theft or any other Insured peril is often self evident. However damage to the premises and its contents such as stock, machinery or plant can also adversely affect business operations. As a result of physical damage it is common for a business to suffer a total or partial closure or interruption in trading, and incur a consequential loss of turnover and profit. The extent of these consequential losses of profit depends on circumstance but can often be far greater than the material loss itself, and may even put the entire future of a business in jeopardy. Swift, appropriate, and often creative responses are thus needed to claims in these emergency situations where trading is curtailed, to allow a business to continue operating and mitigate the loss. For all these reasons when a business has suffered from insured damage to property and a likely interruption in trading, it is essential that a public loss assessor is engaged by the policyholder to provide expert help, guidance, and management of the loss of profits claim.
Many comprehensive business insurance policies extend to cover business interruption, loss of gross profits, and increased costs of working but there are certain provisos to be met. In addition, as always, the onus is on the policyholder to prove a valid claim and to substatiate the value of the claim. Insurance claims invloving business interruption require expert knowledge and experience to ensure the claim adequately and accurateley represents the loss. The Claims Consultancy Loss Assessors based in London have 25 years experience of handling these insurance claims.
Immediately following the damage or loss we can assist with the arrangement of emergency repairs to make the building safe and watertight and to ensure that mains services are safely terminated or resumed. The Claims Consultancy extends to its clients its wealth of experience in these fields and will discuss with you initiatives to maintain business turnover wherever possible and appropriate.
Following a detailed insection of business records The Claims Consultancy assist all its clients by preparing a schedule of the consequential loss incurred. We act as your expert advisor and help by dealing with and negotiating settlement of the claim with insurers or their loss adjusters on your behalf and providing management of the claim through to completion.We will also guide you in obtaining appropriate replacement /repair estimates and valuations where necessary.
Your insurers are likely to appoint a loss adjuster or claims handler to deal with your claim but this is to protect their own interests.These representative's operate under heavy workloads and your claim cannot be given the focus it deserves. Adjusters and Insurance Claims Inspectors do not prepare your claim, they adjust the claim you submit. Other expenses may be recoverable of which you are unaware. If you prematurely agree a claim with insurers it may be too late for them to subsequently reconsider additional items.
Policy wordings are complex and difficult for a policyholder to understand. An insurer or his representative have the advantage and will often attempt to construe the wording in their favor. Acting as your loss assessor The Claims Consultancy understand policy wordings and have the knowledge and experience to redress the balance and ensure that your business interruption claim is given the fullest and fairest consideration it deserves.
It is therefore essential that you are represented by your own professional loss assessor as soon as possible after damage and a likely loss of profit is established, to ensure the claim is properly and accurately presented and you receive the maximum benefit under the policy.
Gain from of our 25 years experience in handling business interruption claims;
Call The Claims Consultancy Loss Assessors now! 07970 380 111