One of the main questions we hear from insureds when we are evaluating a claim is "I've got my laptop insured for $3,000, how come I'm getting a replacement worth $1,500? Why have I been paying a premium on $3,000 when the laptop's only worth $1,500?"

Whilst we are all aware that the sum insured is the insured's responsibility, too often we see a schedule of IT equipment where the sums insured continually reflect the purchase price year after year when the actual replacement cost is much less in most cases.

The IT Claims Services Sum Insured Review service allows insurers and/or intermediaries the ability to provide their clients with an accurate and up-to-date replacement value for their equipment. This can have the effect of reducing the client's premium and can be seen by the client as an additional service that actually benefits them financially.

Insurers and intermediaries are too often assumed to be finding ways to increase a client's premium. How nice it would be to provide them with a service that suggests a reduction in premium while providing them with an accurate and up-to-date replacement value for their equipment.

IT Claims Services will review your client's schedule of IT equipment and provide a report of the current replacement value.

Market & Indemnity Values

Sometimes customers or Third Parties in a liability claim just want to be cash settled.

We can provide detailed reports outlining the specifications, age and nearest equivalent models of IT equipment with a Indemnity Value (Cost of replacement less depreciation) or Market Value (selling price for similar equipment, specifications, age and condition).