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Claims Management and handling
We specialize in dealing with catastrophic loss situations. Our experience comes from dealing with numerous losses inflicted by the Scud missiles, which hit Israel during the Gulf War in the beginning of 1991 and from a major explosion, which occurred in July 1992. In both cases we managed the adjustment and settlement of thousands of claims. In one case on behalf of the government, and in another, on behalf of the involved liability insurers/reinsures.
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We were the nominated loss adjusters by the SwissRe for the erection of The Hadera Power Station. We are the nominated loss adjusters, together with Miller International by the MunicheRe, for the Ashkelon power station project, estimated about US$ 1.5 billion.
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From the experience gained to date we are now in a position to manage and deal with loss situations of this kind, either by using our own adjusters or by using other adjusting firms under our full control and supervision, or a combination of both.
We have developed working procedures, enabling us to deal effectively with loss situations where thousands or even tens of thousands of claims are involved. This could also facilitate insurers in case of an earthquake, although we do of course hope that Israel would not be subject to such a catastrophe.
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We have closely supervised and monitored the progress of a number of Erection Projects valued in the region of hundreds of millions of US dollars, including the erection of the unique Magnesium Plant at the Dead Sea and the Power Station at Hadera. We were also appointed to survey and monitor the erection of the Power Station at Ashkelon as well as the construction of the Ayalon Highways Project.
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We are currently the nominated loss adjusters for the ICL Conglomerate, comprising Dead Sea Works Ltd., Dead Sea Magnesium Ltd., Dead Sea Perculas Ltd., Bromide Compounds Ltd., Rotem Amfert Negev Ltd., Oil Refineries Ltd., Chemicals and Fertilizers Ltd., on behalf of The Royal Sunalliance and the AIG.
We are currently handling on behalf of AIG, the biggest EAR And ALOP claims, which have been issued in Israel amounting to US$ 23 million.
Approximately 2 years ago, we were engaged in loss adjusting the largest loss ever seen in Israel, a fire in a power station, which was settled in the region of US$ 57 million.
In the past we handled very successfully, the largest explosion damage claim in the Israel Military Industries, which affected the most highly populated residential area in Israel and resulted in approximately 6,500 individual third party claims. Only five of these third party claims went to court and all were rejected.
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