Major Fire at University Causing Material Damage & Business Interruption
A major fire at a UK University caused extensive damage to a world leading optoelectronics research facility, including laboratories and a hi-tech clean room.
The overall value of the claim was in excess of £120M and Lorega were appointed by the university to represent them in negotiation with their insurer.
Although the decision was taken to replace the destroyed buildings with more extensive and updated facilities, the Lorega Expert was able to establish the value of the pre-existing buildings, including an extensive list of the lost inventory and equipment.
The claim also included both the increased cost of working for two temporary clean room facilities and the loss of grant income.
Although the insurer sought to reduce the value of the claim, the Lorega Expert was able to secure an additional £15M of settlement over and above the original proposal by the insurer.
The funds received enabled the University to rebuild its facilities and maintain its position as one of the leading centres for optoelectronics in the world.
“This was a catastrophic fire with widespread damage to our state of the art research facility and clean room. The hardest part was to establish a detailed basis for our claim and the Lorega Expert was a fantastic support, when we needed it most.”
Insurance Officer, UK University
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