The importance of machinery and business assets for insurance purposes

Machinery and other assets are a huge investment and often the backbone of a business, without which the company cannot hope to operate. Across the MENA, many businesses are open to risk from loss events such as fire damage and even flooding. In the case of such an event, the company will rely on their insurer to pay the full amount necessary to rebuild and replace losses in a timely manner so as to minimise the impact on profits. A quick and full payout at this time will enable the business to resume trading and remain solvent, however, if the assets aren’t well documented, the loss adjuster may delay payment until they can ascertain what the assets were, and what condition they were in before the loss event occurred. These types of delays can prove fatal to a business.
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04 Apr 2017 06:14:59
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