Insurance against risks of damage, total or physical loss of property

Loss adjusting is a package of measures undertaken by Insurer in order to fulfil his obligations to the Insured in case of a loss occurrence.

We conduct loss adjusting investigations and handle insurance losses due to:

  • Property Damage All Risks (movable and immovable assets) or named perils (FLEXA, etc.);
  •  Machinery Breakdown;
  •  Damage to trade stocks.

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 property, including:

  • witnessing and describing of the extent and nature of damage;
  • if necessary, taking of samples for further tests, arranging of additional investigations;
  • 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 the 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:

  • arrangement and supervision of dedicated expert investigations (with the participation of scientific and research institutes and laboratories) to assess the reparability of equipment, the condition of trade stocks;
  • analysis of documents supporting the actual costs incurred to restore or replace the damaged property;
  • drawing up of alternative cost estimates for restoration and 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 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;
  • 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 expenses 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 scope of policy liability when the Insured’s liability for the loss is established;
  • estimation of the most promising options for recovery (subrogation) to Insurer;
  • making of recommendations on ensuring 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