How Equipment Loss Consulting Can Produce Indemnity Savings

In a recent claim investigation, a large printing press motor shorted out causing sparks and overheating of paper bales, which in turn, created smoke and soot damage on the surrounding equipment and numerous areas throughout the property.

In total, the damage extended to more than 300 pieces of equipment and created over $10M of potential exposure.

In situations like this, it is critical to act swiftly yet thoroughly to mitigate further damages from occurring. It is important for all parties involved to understand how these items are catalogued and the proper methods to mitigate, identify what can be restored, repaired, and/or replaced, and who can provide a viable scope and cost analysis.

Whether a catastrophic incident affects equipment, or it undergoes a failure of some kind, an equipment loss consultant can help sift through the complexities. In this case, wipe samples were taken on the equipment and a team of consultants, engineers, and technicians determined which items could be restored, repaired, and/or replaced, saving the insured over $10M and months of business interruption.

Engaging equipment experts upfront can save both time and money, but beyond that, these experts can help determine causation and subrogation potential.