Material Damage to Machinery
The productivity at a laser cutting and fabrication business in Birmingham was seriously affected when a fork lift truck ran into a press-break machine and production stopped.
Although replacement parts for the machine were available at lower cost, the lead time was up to 12 weeks and this meant that crucial orders for the business were in jeopardy.
Fortunately the client had Loss Recovery Insurance and a Lorega Chartered Loss Adjuster was on site the next day to help sort out the claim.
The Lorega Adjuster was able to demonstrate that the loss of profits from the inactivity of the machine, which would have been covered by the Business Interruption clause of the policy, was far in excess of the cost of buying a new machine.
The insurance company agreed and a new machine was ordered and installed within seven days – minimising the size of the potential claim and ensuring that the business was able to meet its scheduled orders.
Both the Broker and their client were delighted with the professional and expert help provided by Lorega.
“At a time when we were looking at all the negatives, the Lorega Adjuster was able to focus on the positives and achieve a rapid solution to our problem. We are so glad our broker recommended the Lorega policy”.
Director, West Midlands manufacturing business
Image courtesy of Atlantic Training
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