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A malicious damage case study – Investment property

An unoccupied investment property in South London suffered malicious damage when vandals entered the building and caused thousands of pounds worth of damage.

The property owner was dismayed to be told by their insurance company that the claim was unlikely to be paid due to potential breaches of warranty.

The broker suggested the client sought independent expertise from Lorega, who appointed one of their Chartered Loss Adjusters to manage the claim, as part of the Lorega Expert service.

The adjuster was able to show that the warranty breach did not have a material affect on the cause of entry and the claim was then successful.

Following complex negotiations with insurers, the Lorega adjuster agreed a settlement of £175,000, and works were undertaken to repair and restore the property, enabling it to be re-let on the open market.

Quite separately the Lorega adjuster was also able to help the client bring a claim against the managing agents, who had been negligent in their management of the property.

“Without the depth of knowledge of insurance in general, and the wording of my policy in particular, this claim would never have been settled. I am extremely grateful for the dedication Lorega showed in resolving what was a very difficult situation.”.

Director, Property Investment Company

 

Malicious damage insurance case study

 

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Find more examples of how we’ve helped a variety of small to medium businesses after malicious damage by visiting our loss recovery insurance claims case studies and after the event insurance case studies.

 

If you want to get in touch regarding any of our Loss Adjustment or Expert products, you can either speak to your broker or contact us here to see how we can help you.

 

A malicious damage case study – Investment property

An unoccupied investment property in South London suffered malicious damage when vandals entered the building and caused thousands of pounds worth of damage.

The property owner was dismayed to be told by their insurance company that the claim was unlikely to be paid due to potential breaches of warranty.

The broker suggested the client sought independent expertise from Lorega, who appointed one of their Chartered Loss Adjusters to manage the claim, as part of the Lorega Expert service.

The adjuster was able to show that the warranty breach did not have a material affect on the cause of entry and the claim was then successful.

Following complex negotiations with insurers, the Lorega adjuster agreed a settlement of £175,000, and works were undertaken to repair and restore the property, enabling it to be re-let on the open market.

Quite separately the Lorega adjuster was also able to help the client bring a claim against the managing agents, who had been negligent in their management of the property.

“Without the depth of knowledge of insurance in general, and the wording of my policy in particular, this claim would never have been settled. I am extremely grateful for the dedication Lorega showed in resolving what was a very difficult situation.”

Director, Property Investment Company