View this article online: https://www.claimsjournal.com/news/national/2014/10/08/256011.htm
HVAC Investigators (HVACi) announced the release of a new case study detailing a large loss claim investigation conducted by the firm. The case study also provides an overview of HVACi’s large loss claim assessment process.
The case study, based on a recent assessment, illustrates a multi-system, large loss claim, assigned to HVACi by an independent adjuster in the summer of 2014. The insured claimed the full replacement of nearly 500 systems for a total of more than $4.5 million. The high settlement exposure and complex nature of the claim prompted the adjuster to engage HVACi’s large loss assessment team. Within nine business days, HVACi had completed the onsite investigation and provided a comprehensive damage assessment of each system to the adjuster with a recommended settlement. As a result, the carrier was able to realize more than $4 million in accuracy versus the initial claimed amount.
“The complex nature of HVAC systems increases the risk of any large loss claim, particularly with a claim of this size and scope,” said the assigning adjuster. “If it were not for HVACi’s objective assessment, we would have grossly overpaid for the replacement of many systems that could have easily been repaired, and some that were not damaged at all!”
A copy of the case study is available via the HVAC Investigators website http://www.hvacinvestigators.com/2014/10/large-loss-claim-case-study/.
Source: HVACi