Chemical Loss in New Jersey
This loss originated from a roof leak and partial roof collapse. The insured is
an importer and distributor of powder and liquid chemicals, additives and enhancers
for the cosmetic and food industries. Corrugated drums of product were soaking wet
and collapsed. Also, total exposure for the carrier exceeded $2.6 million. The insured
couldn’t replace the imported product quickly enough, so we developed and oversaw
a procedure where the product was redrummed rather than salvaged. This also eliminated
a potential business interruption claim. Over a 3 ½ week period, we processed all
Final result? $63,000 (2%) worth of product was found unusable, the rest went back
into the distribution stream. The insured also accepted a 20% salvage credit on
the unusable product. Ultimate net loss: 50K.
Drug Store Explosion
Shortly after a natural gas leak was detected and the store evacuated, an explosion
ensued rupturing sprinkler lines and strewing contents out the front doors. We employed
our rapid response team and quickly removed the salvageable stock in conjunction
with the insured's safety personnel. Inventories were completed after stock removal,
further documenting and reducing the gross claim.
Industrial Strength Success
When a national galvanizing firm sustained a severe fire to one of their facilities,
we were contacted to liquidate the 1.5 million lbs. of Zinc in their 50-foot, hot-dip
kettle which had solidified into a solid block. After re-heating the kettle and
pumping the contaminated Zinc into steel barrels, we distributed our comprehensive
bid package to our Tier One metals buyers, conducted core sampling, buyer inspections,
and held a sealed bid sale. The results of our sale: a gross salvage sale of
over 82% of the current value of Zinc on the London Metal Exchange!
The carrier was so impressed with our professional services, they subsequently engaged
us to sell the scrap metal from the building demolition for an additional superior
View photos from other work we've done.