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The Priority for both the Claimant who has suffered damage to their business, and the Insurer who is paying for the losses suffered, is to get the business up and running as fast as possible. - Why?
From the point of the Claimant: there can be no guarantee that the (indemnity) period in the policy over which their losses will be covered will be long enough. The policy does not cover everything; it is better to earn money where possible rather than hope 100% will be recovered from Insurers who are not noted for their compassion and generosity!
For Insurers: the loss at day one for Business Interruption is minimal – the extent to which the losses are incurred will depend on the effectiveness of the recovery plan devised, and the claimant’s ability to implement it. The faster the recovery the smaller the loss, and the less they have to pay. The quandary is that the insured invariably does not have experience of such a situation, and anyone provided by the insurer will understandably be treated with suspicion.
Pragmaticum make a difference at this early stage by aligning the interests of the two parties and getting the focus on an admission of liability and planning the business recovery as a priority, then addressing quantum related matters.
The three elements of the Pragmaticum Service:
• Business Recovery
• Claim handling
• How we are paid – Service Cost
We also provide similar but specialist services for:
• Compulsory Purchase Order claims and
• Claims arising from environmental damage – Oil pollution in particular.
These services are tailored for the following groups:
• Medium to Large Companies with complex losses
• Large Corporate Groups
• Insurance Brokers
• Professional Advisors to the insured
Through the management of other large projects (see case studies) over the years we have also acquired significant capability in IT project and programe management as well as general corporate experience.
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