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Case Study - 28 January 2021

Insurance Loss Recovery

Case Study

Major Insurance Loss Recovery

Returned 50-60% to RRP to vendor

Completed December 2020

Client Needs


Multiple insurers brought to us a claim arising from an imported container beetle infestation. The infestation would pose a thread to Australian Agriculture, and fumigation was required. Following fumigation, the retailers refused acceptance of the goods, resulting in insurance claims raised and paid by the insurers.

Hilco Global APAC was instructed to sell the stock to mitigate insurance losses.

This insurance claim was complex due to multiple insurers across various cross claims resulting from a single incident.

Assets included over 2000 TV, audio, IT and appliance consumers products.

Hilco Global APAC Solutions


Valuation

Valuation of civil construction equipment performed in a matter of days. Hilco APAC made an offer to purchase the equipment outright, transacted within 48 hours.

Insights

Monetisation Solution determined was an unreserved auction on the Hilco Global APAC platform.

Targeting

Expectation based on the asset profile was that the target market would be national, and as a result Hilco added on a delivery option for consumers, making the logistics complex on the project, but necessary to make the sale accessible to a wider audience.

Advertising

National Media coverage was secured for this project, along with a supporting social media campaign. Prime time news coverage and media interest pieces helped propagate the message to the market.

With over 25 years of insurance salvage expertise, we felt very confident in the design of the solution to maximise the return for our clients here.

MICHAEL HAYES | COO | HEAD OF SALVAGE & WHOLESALE

Campaign Highlights


Asset Monetisation

the Asset Smarter way

Want to know more? Speak to one of our asset specialists

Your Key Contact

Michael Hayes

Michael Hayes

Chief Operating Officer | Head of Salvage & Wholesale


Published: Hilco APAC