TMD helps to secure a speedy settlement following specialist equipment fire

Such was the case with a North London skip hire firm, following fire damage to an item of specialist plant. TMD’s Liability Claims Co-ordinator, Una Connolly, explains:


“The event occurred at the premises of our client in late November, when an operator noticed smoke pouring from specialist machinery that had only been purchased a few months earlier. The resulting fire caused extensive damage to the machine and the client looked to recover costs through their insurance policy.”

On 14th December 2020, TMD arranged for the manufacturer to collect the machine and bring it back to their garage, where it could be stripped down, the damage assessed and the cost of repair calculated. On 17th December 2020, an estimate for repair was received. The figure was £25,000 +Vat.

“At this point,” says Una, “the insurer appointed a loss adjuster and a site visit was arranged on 23rd December 2020 for an engineer to inspect the machine. Thanks to the engineer’s specialist knowledge and understanding of the complexities involved, the damaged machine was inspected, deemed uneconomical to repair and declared a total loss.”

The claim proceeded accordingly, with salvage negotiations taking place over the new year. Salvage buy-back occurs when the client wishes to retain the damaged equipment for salvage purposes, and involves the salvage being quantified and valued. This figure is then deducted from the final insurance settlement.

On 4th January 2021, all documentation was received and validated and, on 8th January 2021, settlement was agreed, the salvage retained and the client paid. Case closed.

“The process worked seamlessly,” explains Una, “with the satisfactory outcome due, in no small measure, to the expertise of the loss adjuster and insurer, who fully understood the complexities of the damaged plant. This resulted in a fair offer being made, quick settlement achieved and the client buying back the salvage from the insurers.”

Credit must also go to TMD’s commercial department, for initially ensuring adequate cover was arranged with the appropriate insurer, and TMD’s claims handling department, for liaising with all parties effectively and efficiently, ensuring the claim progressed smoothly and settlement achieved in record time. Unsurprisingly, the client was very happy with the outcome.

“It just goes to show,” says Una, “that where everybody sings from the same song sheet, claims can progress quickly, resulting in a satisfactory result all round. I think this case aptly illustrates TMD’s attention to detail and commercial knowledge when arranging cover and handling claims on behalf of a client.”