Printing Press

Policyholder under insured, CATS saves business!

Incident:

Flood / Water ingress

CATS services used:

Validation, Repair Assessment, Replacement, Salvage & Recycling, Loan Equipment, Best Route To Market.

Claim overview:                                                           

This claim involved a print firm whose premises were flooded. We were instructed to assess both the insured’s computer and print press equipment to establish repairability.

Following assessment we established that all of the equipment had been severely damaged beyond economic repair.

The cost of reinstatement equipment was in excess of £300,000. The insured’s cover totalled £160,000, which meant that they were considerably under insured. As a result the insured had genuine concerns about his ability to continue trading.

After much discussion with the insured and negotiation with our broker network, we managed to arrange replacement products within policy cover.

This was much to the policyholders relief as it ultimately kept him from going out of business.