Case Study

Inventory Valuation

Insurance Salvage – Critical Valuation

Overview

• Hilco was appointed by our client, a leading Loss Adjusting firm for expertise in inventory valuation for an insurance claim involving a significant quantity of stock affected by fire
• The underlying business affected was a successful Australian distributor of motor parts
• Instructions included:
  ◦ Handling communications in a secure and confidential manner
  ◦ Review of documentation, attending site, calculation of inventory valuation based on insurance event,
  ◦ Present findings in clear, concise manner for the purposes of supporting documentation in assessing claim and settlement
  

Challenges

• Confidentiality
• Site visit to ascertain degree of damage
• Assessing the sheer size of stock on hand, estimated at over $2M AUD
• Understanding the market appetite of this stock

Outcome

Hilco was able to attend and quickly ascertain the extent of stock affected and gain insight into nature of stock in current state

Hilco used its range of ‘tools’ including market intelligence, and its experience in dealing with inventory to assess and provide a calculation

 

The valuation provided in the formal report provided both our client and the insurer confidence and met the requirements to assist in settling the claim

 

Hilco’s appointment provided the leverage that insurers required to manage a complex claim and support the settlement of claim with a robust, accurate valuation

 

How Can We Help?

Call George Endacott on 0422 313 707 to find out how we can maximise insurance salvage outcomes on your next claim.

George Endacott

George Endacott

Director | Salvage

+61 422 313 707 Send Email

George has developed a career spanning over 20 years in Sales and Relationship management in the financial services industry, in particular within general insurance. With roles across client services and business development, George has built an impressive network of contacts within the Loss Adjusting, insurance claims, brokerage and building consultancy community. George has worked for Sedgwick in Australia for almost 10 years, niching in claims services (Loss Adjusting), Building consultancy and strata services to Australian Insurers. George holds a Bachelor of Business (Marketing ) degree and a Certificate IV in General Insurance through ANZIIF.

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