Industrial fires remain a serious concern for (re)insurers, with thousands of fires occur annually in industrial and manufacturing properties, resulting in over $1 billion in property damage alone. Factors such as the size of the fire and the spread of the flame impact the severity of the damage.
Following a serious industrial fire, the top priority is typically to return the insured’s business to normal operations. International studies have found that business that fail to reinstatement their production in the first 30 days typically go out of business, adding to the cost of the claim.
Developing effective and efficient reinstatement options is one of the key challenges facing insurers and loss adjusters. Over the years, CEERISK has worked closely with loss adjusters around the world to assist with the development of different reinstatement options.
This webinar looks at the investigative process and what it is that experts do to determine what are the most effective options following an industrial fire. By looking at real case studies, the presenter will demonstrate the steps that must be taken, in addition to what claims handlers and (re)insurers should look to do in order to facilitate the reinstatement process.
