Policyholder under insured, CATS saves business!

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Policyholder under-insured

Insurance cover totalled £160,000. Product worth £300,000

CATS negotiated second hand replacement within policy cover 

Printing Press

Incident: Flood/Water ingress

Services Used: Claim Validation, Repair Assessment, Replacement, Salvage & Recycling, Loan Equipment

We were instructed to assess both the insured’s computer and print press equipment to establish the possibility of repair. Following assessment we established that all of the equipment had been severely damaged and was 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 policyholder's relief as it ultimately kept them from going out of business and retained the
insured as a client for our customer.

Can we help you? - Call our claims team on 0844 478 0088 or email us today