Largest insurance reimbursement by Colonnade Ukraine

Last September our company finalized claim settlement process for the fire case happened Sept 25, 2017 on Biopharma plant in Bila Tserkva. As a leader (over 80% of settled amount) our company has arranged the full claim settlement process including evaluation performed by Intertechservice LLC (WC Webster and Crawford surveyors worldwide nets agent). Business interruption loss calculation is made by specialized department of Crawford (Netherland) on the basis of data confirmed by Konsultant audit company.

Fire damaged partially warehouse, production equipment and stock.

Reimbursement included raw material, finished goods and partial warehouse rebuilding.

Total paid claim amount for property damage is nearly UAH 95mln and compensated financial losses caused by business interruption in amount of UAH 24 mio.

We would like to stress on coordinated cooperation between the client, insurance broker “Dorada”, experts and co-insurers – insurance company “Universalna” and “Arsenal Insurance” during the loss settlement.

Substantial losses in major part are reimbursed by reinsurers. In this particular case more than UAH 90mio were according to Colonnade Ukraine reinsurance treaty supported by such leading international reinsurance holdings as SwissRe, SCOR, R+V, Hannover Re and others.