Property damages
Claims management
Valuation reports
Report for court cases
Property damages
As expert appraisers, we offer you our support and expertise for processing property insurance claims.
The range of services covers all fields of insurance, such as:
• Fire damage
• Mains water damage
• Storm damage
• Machinery damage
• Electronic damage
• Transport damage
• Elemental damage
• Liability damage
• All-risk damage
• etc.
Once the appraisal work has been ordered and determined, our office organises and performs the complete recording, documentation and valuation of the damage and the subsequent compilation of the expert opinion.
This includes the interdisciplinary collaboration and initiation of claimes management with the participating experts and contracting parties with:
• Determination of responsibilities
• Agreeing and implementing action to minimise losses
• Organising the recording and documenting of costs
Large-scale damage claims have been processed both in Germany and abroad in the following fields:
Industry
- Chemicals
- Wood processing
- Plastics processing
- Iron and steel processing
- Automotive
- Foodstuffs and beverages
- Pharmaceuticals
- Paper / printing
- Stone, glas and ceramics
- Energy supply
- Recycling / waste treatment
- Iron and steel works
- and many others.
Trade – commerce – craftwork
- Joinery and carpentry
Locksmiths and metal construction - Metal processing (turning, cutting)
- Foundries
- Surface coating
- Construction machinery
- Polishing and grinding works
- Vehicle dealerships and workshops
- Printers
- Bakers
- Butchers and meat processors
- Wholesale and retail
- and many others.
»The aim of the expert appraisal work is to process claims in the optimum manner in consideration of the insurance policy conditions.«
Claims management
An event of damage hits the policyholder suddenly and unexpectedly. Complete operating halls or facilities can be razed to the ground by a major fire. Even smaller fire and machine damage can lead to the failure of central production and supply units. failure of central production and supply units.
Such a situation, usually previously unknown for those affected, is frequently a precursor to a phase of “chaos”. This needs to be tackled by reliable claims management.
Operative claims management concerns overseeing and coordinating claims once damage has occurred and is closely linked to the expert appraisal work and can sometimes overlap with this.
Restoring the production and supply facilities has the utmost priority in this case.
Our claims management includes the following services:
- Coordination of policyholders, insurers, agents, expert appraisers etc
- Damage analysis
- Coordinating repairs and replacements
- Organising and overseeing the rectification and minimisation of damage
- Recording and documenting costs
- Project analysis
Our structured, capable procedures have proved themselves in a variety of cases involving partial and total losses, both in Germany and abroad.
Valuation reports
Appraisals of machines, industrial plant and equipment are used for various purposes such as:
- Replacement and Actual Cash Value for insurance purposes
- Fair Market Value for sale, auction, lending purposes etc.
The different values are defined as follows:
New value:
The replacement value is the amount that would have to be spent in order to replace items of the same type and quality in as-new condition or to or to manufacture them again, whichever is lower.
Current value:
The current market value is calculated from the new value of the items by deducting their condition, which is determined in particular by condition determined in particular by the degree of wear and tear
Fair Market Value
The Fair Market Value is the price that would have to be paid to purchase an asset in its particular market. Market value corresponds to the fair market value.
Partial value:
The going concern value is the value that the purchaser of an entire company would recognize as part of the total purchase price for a individual machine or plant if the company were to continue as a going concern.
As a rule for valuations, plant and equipment are physically recorded by the office’s employees (assistants) and a calculation concept is prepared.
The benefits of a proper estimation of value consist of:
- Reliable determination of insurance sums to avoid underinsurance and the associated losses, plus simple documentation of damage for insurance claims through an actuarial estimation of replacement cash and actual cash value.
- Accepted, objective estimation of fair market value for sales etc.
We offer this service in cooperation with partner offices.
Please contact us.
Report for court cases
As a publicly certified, officially sworn expert appraiser, the owners of the engineering office also works as an “appraiser for court cases”.
Examples of independent, neutral appraisal work in this field cover
- Procedures for collecting evidence
- Valuation reports for compulsory auctions
- Valuations at new value, present value, fair value and part value for insurance claims, asset disputes etc.
These serve to objectively depict the facts of the matter and to valuate machinery and industrial plant.
Their basis are the expert opinion commissioned by the court or the questions arising in a so-called “evidentiary hearing”.
