Vista NW Claims Support in Action
07/11/2024
Business
- UK Importer/wholesaler/retailer
- £4M Turnover
- 60 Employees
Circumstances
- Overnight Storm damage caused water ingress inside premises resulting in substantial damage to stock/machinery.
- Immediate impact on business processes, resulting in unfulfilled orders/downtime.
Action of Vista NW Claims Team Support
Advised insurers of the incident within an hour of the damage being discovered. Loss Adjuster appointed immediately.
Vista NW and Loss Adjuster attended scene within hours and plans agreed to commence with business recovery plan.
Vista NW supported client in sourcing suppliers in various areas to help with the clean-up.
Loss adjuster/insurers initially repudiated the stock damage as they said the stillage warranty in place on the policy hadn’t been complied with (all stock to be kept on pallets).
Result
Vista NW argued that the stock damage resulted from water cascading from upper floors onto finished stock in the ‘goods out’ area of warehouse, and if the stock had been stored on pallets, the resultant damage would have been the same. Vista NW also demonstrated that the vast majority of stock held at the premises was kept on pallets.
Following negotiations between Vista NW and loss adjuster/insurers, the repudiation was reversed and the claim was promptly settled, and the client was reimbursed for the damaged stock.
The client has praised Vista NW for their hands on approach, ensuring all dealings were seamless and took the pressure away from them to focus on recovering their business. Having the right cover with a reputable insurer certainly paid dividends on this occasion.
Latest News from Vista...
Is AI in Insurance Due Diligence worth the hype?
Is AI used for insurance due diligence really worth the hype or is handling risk something humans just do better?
How to safely dispose of lithium batteries
From smartphones to cameras, lithium batteries power much of our daily life—but what happens when they reach the end of theirs?
Vista NW Claims Support in Action
How Vista North West's quick thinking and spring to action helped prevent major losses for this wholesale/retailer
Are electrical vehicles a greater fire risk than traditional vehicles?
Contrary to popular belief, internal combustion engine (ICE) vehicles are about 20 times more likely to catch fire than EVs
Can burnout be a cyber security risk?
Employee wellbeing has become a key focus for improving productivity, profitability, and talent retention, but its impact on cybersecurity is less recognised.
What’s behind 112 Million Sick Days Taken by Workers Annually?
Last year, 112.5 million sick days were taken by people with long-term health conditions, yet only a third received employer support to return to work.
Important Changes Coming to the Motor Insurance Database
The Motor Insurers’ Bureau (MIB) is transitioning its industry services to a new cloud-based platform named Navigate.
Ten reasons why your business needs cyber insurance
ten reasons why your business needs cyber insurance and how Vista North West can help provide it
The Building Safety Act - deadline 30th September
There are only a few weeks before the 30th of September cut off, for those responsible for the health and safety of high-rise residential buildings, to register and comply with the new Building Safety Act.
Vista North West and Consumer Duty
On 31 July 2023, new Consumer Duty rules came into play in the UK, but what is it exactly and what does it mean for our customers at Vista North West?
Cyber & Data – Working From Home
For many of us, our way of working has changed drastically over the last 2 years, there’s no better time to talk about the importance of data protection protocols and the steps you can take to improve your processes while working from home.
Vista NW celebrates a successful first year of trading
Dan Stockley reflects on a fantastic first year in business
Vista NW appointed as Insurance Broker to Nationwide vehicle delivery business
Vista NW appointed as Insurance Broker to Nationwide vehicle delivery business.
Why are the cost of insurance claims rising?
Our guide to the rising cost of insurance claims and what you can do
Building Underinsurance
Are you completely comfortable that your buildings are suitably insured and not at risk of underinsurance?
