Loss assessing

   LOSS ASSESSING

LOSS ASSESSING/ADJUSTING SERVICES

The Practice

For each assignment we follow a specific methodology which is dictated by our motto: “inspection with precision”.

We firmly believe that the Insurance Industry is offering an invaluable service to the society. We are participating in this service on a twenty-four hour basis providing the balance of our theoretical and practical skills within the strict framework of professional conduct. In addition to our staff of professional engineers, we maintain a network of associate consultants for almost all professional categories. Thus, if need arises, we enhance our top class services by forming a multi-disciplinary team of experts.

Every aspect of our work is subject to strict methodology and quality control. All stages of our work are fully documented and available for customer inspection. Achieving this has been an integral part of our business objectives in order to formally recognise the commitment to quality and customer satisfaction that we demonstrate as an organisation.

Available loss adjusting/assessing services.

ASSET VALUATION SURVEYS – replacement cost valuation (contents-buildings)
LOSS ADJUSTING : FIRE – detailed investigation at the incident scene
– collection of samples for lab analysis
– determination of fire origin and cause
– cooperation with Public Services
– investigation and cooperation with other sources
– analysis, interpretation, presentation of results
– pre-incident valuation of assets
– salvage evaluation
– determination of obsolescence
– evaluation of tenders
– calculation of the direct loss
LOSS ADJUSTING : ENGINEERING – damage and cause determination
– determination of obsolescence
– verification of the maintenance schedule
– verification of previous loss statistics
– verification of previous malfunctions
– verification of conditions of operation
– contacts with the relevant manufacturers
– meetings with the technical personnel of the insured
– salvage evaluation
– calculation of the direct loss
– proposals for alternative solutions
LOSS ADJUSTING : ELECTRONICS / COMPUTERS – determination of hardware damage on site or in lab – damage determination using software tools
– verification of the installed systems
– verification of systems compatibility
– verification of hardware connections
– verification of malicious and/or non authorized use
– verification of technical characteristics
– verification of incidental damages
– contacts with the relevant manufacturers
– determination of obsolescence
– salvage evaluation
– calculation of the direct loss
– proposals for alternative solutions
LOSS ADJUSTING : CARGO – damage and cause determination
– visual reconstruction of the packing method and stacking
– lab analysis of the transported goods
– suitability and condition of the freight medium
– cooperation with Public Services
– investigation and cooperation with other sources
– salvage evaluation
– calculation of the direct loss
LOSS ADJUSTING : THEFT – verification of the incident
– reconstruction of the intruder’s entry method
– operability of the protection systems
– written statements by the insured and the witnesses
– cooperation with Public Services
– investigation and cooperation with other sources
– pre-incident valuation of assets
– calculation of the direct loss
LOSS ADJUSTING : SPECIAL PERILS – coordination depends on the specific peril and the terms and clauses of the insurance contract
LOSS ADJUSTING : VEHICLE – inspection at the scene of the accident
– classification of the material evidence
– accident reconstruction
– malicious claims
– written statements by the insured and the witnesses
– cooperation with Public Services
– investigation and cooperation with other sources
– negotiations with the repair shops
– calculation of the direct loss
– calculation of the consequential loss
PERIODIC INSPECTIONS – establish deviation from the initial risk assessment
– evaluation of the current status
STATUS REPORTS – unsettled claims to date
– progress status per claim
– estimation of gross loss per claim

 

 

 

   Accountants and other financial professionals need Certified Machinery and Equipment Appraisals

How do you currently determine asset value?

  • Guess?
  • Rely on book value?
  • Rely on the owner’s word?
  • Rely on some non-certified person’s word?

Our appraisals are an accurate, irrefutable, defensible value of machinery and equipment. It is a report consistent with the Uniform Standards of Professional Appraisal Practice (USPAP), promulgated by regulating institutions.

It is what you need to prevail before the courts, lenders, attorneys, CPAs and others. In fact, there is a chance that courts could disallow a filing because there is not a Certified Appraisal Report that substantiates equipment values.

If the appraisal report you obtain is not USPAP compliant, it is not a “qualified” appraisal prepared by a “qualified” appraiser pursuant to regulating associations and institutions, it will not hold up to scrutiny.