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Claims Scenarios

Here are just a few examples of how our Property claims team supports our clients through dramatic loss events – from notification of loss to settlement of claim.

Pot Freeze at Metal Smelter

Our client was constructing a metal smelter but a ‘pot freeze’ solidified the product in hundreds of pots on a 2km production line. Removing the product was a huge undertaking, and in line with the client’s wishes we supported a small specialised team to accomplish this and then agreed with the client the best way for a quick return to operations, including enhanced labour rates and shift incentives to accelerate the commissioning of pots and an interim payment of $30m with further substantial payments for the property damage and BI losses.  Pre-loss operational status was achieved within eight months, a major achievement given the magnitude of the loss.

Industrial warehouse fire

Fire at an online retail company warehouse caused significant fire, smoke and sprinkler damage to racking and stock. Our loss adjuster was on site within 24 hours with the client to agree the key priorities:  building clean-up, verifying lost stock and website availability to meet customer demand.  Within two days the website was up and running, we agreed our share of liability and made a £5m advance within 7 days with a similar further advance 5 weeks later.  The speed of decision making and execution was essential and the entire claim was finalised within just 5 months.

Explosion at a Manufacturing facility

An explosion at our client’s medical equipment production plant causes major damage to the building, machinery, equipment and stock.  Our Major Loss Adjuster immediately arranged an on-site assessment of the damage and parts of the plant less affected by the explosion were up and running only a few days after the incident. We quickly progressed an advance payment to support the client’s cash flow and assist in mitigation efforts, all of which substantially reduced the clients’ business interruption loss. Close liaison and rapid decision making between the client, broker and AIG made this possible.

Flooding at a Hospital

Our insured’s 200 bed hospital was flooded after multiple construction projects nearby changed the flood risk profile.  Heavy rain caused flooding 120cm deep throughout the premises.  Our loss adjusting team was quickly on-site and agreed an immediate $10m payment on account.  The client decided not to permanently reinstate the flooded property but rather to build a new wing on safer, higher ground.  We worked with client on this approach, and agreed a settlement based on a notional cost and time of reinstating the original building.  Our rapid, flexible approach enabled the claim to be concluded within just 9 months of the flood.