Claims Examples
Chemical smell and kitchen equipment
Our client, a trading company that imports kitchen equipment, had shipped a cargo of silicone cooking equipment worth about € 1.3 million. We received a claim for damage to the goods that occurred during transport. Due to a chemical smell, the equipment became unusable for sale. The damage was covered by our 'stock-through put' policy. This policy provides cover for transport by sea, land and during storage. The cargo was stored in a warehouse of a local shipping agent.
AIG appointed a local expertise agency to investigate the cause of the damage. Through detailed investigation of the environment of transport and storage, the agency concluded that the smell was caused by another charge, which was placed next to the cooking equipment in the warehouse.
Fire and water damage to cargo
During a transport from Europe to Asia, a bulk carrier with about 55,000 tons of fertilizer discovered vapors out of two of the holds. The ship had to navigate to the nearest port where they flooded the holds with sea water to reduce the rising temperature. Afterwards, the ship navigated to its destination where all cargo was unloaded.
AIG insured the entire cargo on board for around €20 million and almost half of the cargo was affected by the fire and fire-fighting water.
A team of fire experts and a Marine Complex Adjuster from AIG accompanied the insured during the claim process. Forensic research showed that the cargo did not cause the fire. AIG visited the insured and arranged a deposit of €3 million. Nine months after the loss, the insured was fully compensated for €6.8 million dollars. We also assisted the insured in reclaiming his uninsured damage in a subsequent recovery claim on the carrier.
