Vandalised shop in Tallaght
Malicious Damage | Very often assessing the full extend of the loss can prove too difficult for the distressed business owner, especially when the damage includes theft or destruction of the business records.
This was exactly the case with the Halal supermarket owners whose business was robbed and vandalised. The thieves stole not just the food products, but also CCTV cameras, cash registers, computer equipment.
They also damaged a large quantities of stock, destroyed counter tops, shelves, fridges, and other equipment.
The hard drive of the computers that were stolen had contained the full product inventory and stock list, making it virtually impossible for the business owners to assess the full extend of their loss.
ICS Loss Assessor helps with the malicious damage to property claim
The distressed business owners contacted Insurance Claim Solutions loss assessors and asked for help with the claim. ICS loss assessor carried out a full site damage survey within 4 hours of the call, detailing, photographing, and collecting all of the relevant information required by the insurers.
Quantifying the stock loss was not easy, as all the stock records were missing. In order to assess the value of the stolen or damaged stock, ICS loss assessor with the aid of the loss adjusters had to carry out full stock reconciliation based on stock purchase invoices and available records of product sales.
He also assessed and quantified the damage to fixtures and fittings and aided the business accountants in formulation of the Business Interruption Claim.
Business Recovery Plan & Swift Insurance Claim Payout
After assessing the full extend of the loss and preparing the documentation backing the insurance claim, ICS loss assessor formulated his claim management strategy and met with insurance loss adjustor.
Working closely with the client, client’s accountant, client’s product suppliers, fixtures and fitting suppliers, a workable business recovery plan was also put in place.
ICS Loss Assessor then focused on managing the claim settlement process. Following a lengthy negotiation, the clients received a full compensation for their loss. This allowed the business to survive and thrive and we are pleased to report that 1.5 years later (April 2015), our clients have fully recovered from their ordeal and continue to trade.