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An SME within the transport and logistics sector had a two-part negligence claim against both its insurer and broker, for a shortfall in cover. This stemmed from an insurance claim they had made, and the failure to pay out cover when machinery was damaged.
The business had failed to gain any joy via either insurer or broker in its claim on the policy, and was left exposed to the tune of £300k. Lawyers were engaged and failed to secure any return, resulting in causing the company to incur further costs in lost abortive legal fees.
By engaging the Escalate team negotiation muscle was introduced. Within 6 months, the insurer had been forced to pay 40% of the claim, together with apportioned legal costs. The broker agreed to make up the remaining balance, and the balance of legal fees.
Armstrong Watson has been given the rights to use this case study by Escalate, an award-winning, accountancy-led commercial dispute resolution service.