We conduct loss adjusting investigations and handle losses arising during insured building and installation works, in connection with construction in progress, construction machinery and building site equipment (CAR & EAR).

The presence in the loss adjusting team of own dedicated specialists (engineers specializing in different spheres, construction experts and quantity surveyors, assessors, auditors, commodity experts, lawyers, etc.) allows us to professionally solve systems of tasks:

Inspection of damaged sites, including:

• witnessing and describing of the extent and nature of damage;
• if necessary, taking of samples for further tests;
• obtaining of primary information from the loss site;
• making of recommendations on possible ways of property salvaging and loss mitigation.

Collection of necessary information and documents, including:

• drawing up of requests for supporting documents, taking into consideration the specific features of damaged property and sphere of activities of the Insured;
• negotiations with the parties concerned and approval of the list and forms of documents used in the Insured’s management accounting and required for a proper loss investigation and adjusting.

Investigation of circumstances and identification of causes of the loss incident, including:

• making of own conclusions on technical and organisational causes of the loss incident;
• arrangement and supervision of dedicated expert investigations (with the participation of scientific and research institutes and laboratories) to establish the causes of the loss incident;
• identification of the circumstances leading to a change of risk exposure and other factors contributing to the loss occurrence / detection;
• making of recommendations on future risk mitigation.

Loss assessment, including:

• check of documents supporting the scope and cost of works completed as of the date of loss;
• comparison of the scope of actually completed works with the works supported with documentation;
• check of the scope and cost of works completed as of the date of loss for their compliance with the project and construction standards and regulations, as well as with market rates;
• analysis of documents supporting the actual costs incurred to restore (replace) the damaged property;
• making out of alternative cost estimates for restoration (replacement) of damaged property, control of tender proposals related to the restoration (replacement) of damaged property;
• independent loss assessment (issuance of an appraisal report in compliance with the Russian standards applicable to appraisal activities);
• appraisal of the salvage value and selling options.

Analysis of the insurance (reinsurance) terms and conditions and making of recommendations on policy liability for the claimed event, including:

• identification of the place and time of the event and check of the compliance of damaged property with coverage provisions;
• establishment of the presence / absence of insurable interest of the Insured (Beneficiary) in keeping the damaged property safe;
• legal interpretation of applicable insurance terms and conditions, cover extensions and exclusions from coverage;
• comments regarding the applicability of international clauses in Russian realities (London Market clauses DE and LEG-96, Munich END Endorsement);
• identification and tracing of differences between the wordings of original and reinsurance policies.

Assessment of the amount of indemnity, including:

• check for double insurance and for the adequacy of sums insured;
• assessment of the indemnity in respect of direct damage, extra costs and loss minimisation costs – taking into account the underinsurance revealed, limits of liability and other particularities of the policies (currency clause, extension of the cover to VAT, applicability of deductibles, etc.);
• apportionment of the shares of participation in the indemnity for large-scale (catastrophic) losses between several insurers concerned, taking into account differences in the wordings of individual policies.

Third party liability analysis, including:

• identification of the parties at fault and liable for the event;
• estimation of the most promising options for recovery (subrogation) for Insurer;
• recommendations to ensure the exercise of the Insurer’s right for recovery;
• support for the process of exercising the Insurer’s recovery (subrogation) right in court proceedings – both using own resources and with the involvement of partners (lawyers, legal advisers).