£140,000 Saved on a Print Machine Claim! Header Image

£140,000 Saved on a Print Machine Claim!

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Technology in the printing press industry has made huge strides, but many companies still prefer to rely upon long-serving, tried-and-tested machines that last for decades. These machines are often bought secondhand, and that was the case for the printing press in one case we were instructed on by an insurance company client.


The damaged machine in question was purchased secondhand for £160,000 and its new replacement cost in excess of £300,000 - well over the cover in place.


Ordinarily, insurers reserve the right to pay a proportion of the claim - or even not pay it at all - if the appropriate premiums have not been paid, as in this case. However, once CATS were involved, we found a solution to the issue that left everyone involved happy with the outcome.


Our knowledge of the printing press industry meant that we were able to source a high-quality like-for-like replacement for the damaged equipment secondhand, which fell within the policy cover. Not only was the insurer happy to cover the entirety of this cost, but the policyholder was also satisfied with the replacement.


Obscure technology such as this represents some of the most difficult claims to research and validate. While claims handlers and loss adjusters often turn to the internet to validate pricing information, information on more obscure technology is not so readily available, necessitating longer research and lost hours for claim handlers. But cases involving obscure technology can be handled in a more efficient way - this case represents just one of the many involving obscure technology that we have successfully supported claims handlers in resolving.

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