Case Study
Major scaffolding yard fire - featuring underinsurance and issues with cover
A medium-sized scaffolding contractor faced disastrous consequences when an industrial estate fire spread to their yard and caused fencing, storage bays, ladders, materials and boards to be destroyed.
Complex discussion with loss adjusters followed, which highlighted a number of issues in the sums insured and cover previously placed by another broker. The case was passed to our managing director who used his expertise in policy structure, his relationship with underwriters and a discussion with insurer’ assessors to agree a settlement.
Key Business Achievements
The Problem
The yard was not attached to the offices, therefore the installed palisade fencing of the yard was not insured. The stock of scaffolding boards was also underinsured.
We discovered:
▶ Incorrect sum insured
▶ Fencing not included
▶ No receipts of purchases
▶ Destroyed stock removed
The Solution
Ascend used its market connections and understanding of policy wording structure to argue indemnity.
The process was as follows:
▶ On-site the next day
▶ Claim survey undertaken
▶ Report to insurers
▶ Negotiation with insurers/loss assessors
▶ Escalation to CEO of insurance company
We used our expertise and ‘little black book’ to assist the insured during this difficult time.
▶ Major claim settled
