{"id":14418,"date":"2021-01-29T17:00:00","date_gmt":"2021-01-29T09:00:00","guid":{"rendered":"https:\/\/aqualisbraemar.com\/?p=14418"},"modified":"2021-01-29T17:00:00","modified_gmt":"2021-01-29T09:00:00","slug":"the-importance-of-establishing-loss-in-complex-claims-adjustment","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/blog\/the-importance-of-establishing-loss-in-complex-claims-adjustment\/","title":{"rendered":"The Importance of Establishing Loss in Complex Claims Adjustment"},"content":{"rendered":"\n
At the onset of a loss once the emergency crews have contained the incident, deploying the correct loss adjuster and team of experts can be vital to determining the validity of coverage in relation to the proximate cause of a loss to ensure accuracy of coverage, potential liability, and ensure subrogation opportunities are not overlooked or prejudiced.<\/p>\n\n\n\n
Reality\u00a0<\/h3>\n\n\n\n
Losses in the energy and mining sectors are some of the most expensive gross losses to the global insurance market. With the correct engineering and loss adjusting expertise the importance of understanding the proximate cause of loss can prove vital for ensuring coverage positions as well as identifying and preserving subrogation potentials. <\/p>\n\n\n\n
<\/figure><\/div>\n\n\n\n
In the last decade, 2010 to 2019, the energy industry in North America experienced nearly USD36 Billion(1)<\/sup> of losses in upstream, downstream, and power facilities such as:<\/p>\n\n\n\n
Chemical facilities <\/li>
Gas plants <\/li>
Oil sands <\/li>
Pipelines <\/li><\/ul>\n\n\n\n
Of the total, approximately 88%(2)<\/sup> of the cost of losses were related strictly to property damage, with a portion(3) <\/sup>of losses listed with undetermined causes.<\/p>\n\n\n\n
Solution<\/h3>\n\n\n\n
Assigning the correct professional loss adjusters with experience and technical knowledge in the relevant energy and mining fields to assess and survey the incident and adjust the claim. In highly complex scenarios, subject matter experts may be required to assist during the investigation.<\/p>\n\n\n\n
Result <\/h3>\n\n\n\n
Detailed and experienced loss adjusting provides the Insured and Insurer peace of mind that the correct cause of loss has been established for coverage analysis purposes and allowing the Insured to improve their safety. Subrogation opportunities are explored in detail, protecting Insurers ability to recoup potential recoveries reducing net losses to the market, and benefiting the Insured via the potential recovery of their deductible or other uninsured losses<\/p>\n\n\n\n
\n\n\n\n
USD35,535,814,825. Source: Willis Towers Watson Energy Loss Database.<\/li>
88% equates to USD31,424,549,640(1)<\/sup> of Property Damage.<\/li>
USD511,236,500(1)<\/sup> of the Property Damage listed with unknown causes.<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"
At the onset of a loss once the emergency crews have contained the incident, deploying the correct loss adjuster and team of experts can be vital to determining the validity of coverage in relation to the proximate cause of a loss to ensure accuracy of coverage, potential liability, and ensure subrogation opportunities are not overlooked […]<\/p>\n","protected":false},"author":2,"featured_media":14481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"sector":[],"service":[],"company":[],"class_list":["post-14418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"\n
The Importance of Establishing Loss in Complex Claims Adjustment - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/blog\/the-importance-of-establishing-loss-in-complex-claims-adjustment\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Importance of Establishing Loss in Complex Claims Adjustment\" \/>\n<meta property=\"og:description\" content=\"At the onset of a loss once the emergency crews have contained the incident, deploying the correct loss adjuster and team of experts can be vital to determining the validity of coverage in relation to the proximate cause of a loss to ensure accuracy of coverage, potential liability, and ensure subrogation opportunities are not overlooked […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abl-group.com\/abl\/all-media\/blog\/the-importance-of-establishing-loss-in-complex-claims-adjustment\/\" \/>\n<meta property=\"og:site_name\" content=\"ABL\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-29T09:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2021\/01\/AdobeStock_278553148.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"967\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"George Lenox\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"George Lenox\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/\"},\"author\":{\"name\":\"George Lenox\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#\\\/schema\\\/person\\\/1a54a8404066452ce3b217824eadc7f5\"},\"headline\":\"The Importance of Establishing Loss in Complex Claims Adjustment\",\"datePublished\":\"2021-01-29T09:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/\"},\"wordCount\":318,\"publisher\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/AdobeStock_278553148.jpg\",\"articleSection\":[\"Blog\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/\",\"url\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/blog\\\/the-importance-of-establishing-loss-in-complex-claims-adjustment\\\/\",\"name\":\"The Importance of Establishing Loss in Complex Claims Adjustment - 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