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The Moderna Loss Adjustment

Understanding the consequences of fire damage.
Clearly Lengkeek.

On the night of October 10, 2013, Moderna was struck by a devastating fire. Within a few hours, the textile business was completely engulfed in flames. Of all the risks entrepreneurs face, fire is one of the worst. Apart from the risk of personal injury, disfigurement or death, seeing everything one has worked hard for go up in smoke is a jarring experience to employers and employees alike. Large fires often lead to bankruptcy, even with well-insured companies.

Investigating the extent of the damage

The fire at Moderna was extraordinary. There was damage to the building of Moderna as well as the goods. Many of which belonged to third parties. The fire also contaminated the soil. Luckily, Lengkeek expert Helmut Vissers was involved from the very beginning and played a vital role during the entire process.

First, the circumstances of the fire were investigated by means of a reconstruction. The results of a reconstruction are crucial in determining whether or not there are obstacles that would have an effect on policy coverage. The next step was calculating the extent of the damage to the inventory. In the case of Moderna, it was found that many third-party goods were partially insured by the customers themselves. Another important step was determining the loss of profits as a consequence of the fire.

The results of the investigation were positive. As a result, insurers could immediately start paying out millions in claims.

Clear thinking

After calculating the gross profit, it was determined that Moderna was entitled to collecting benefits for a maximum period of two years. However, the management wanted to relocate the company and reopen its doors within a year. The potential costs and benefits were quickly identified and the decision was made to proceed with the relocation. Exactly 365 days after the fire, Moderna opened its doors again.

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