When a loss occurs, it is important to keep accurate records before, during and after a loss. Timely and proper assessment of any claim depends upon the availability of complete documentation.
This may include:
- Invoices / purchase orders / repair quotations
- Time and material contracts with expenditures
- Inventory quantities with pricings (purchase and sales costs)
- Complete copies of contracts/ leases and other relevant documentation
- Photographs of the damage
- Details of any contractors involved
- Police and emergency services details
- Letters or communications from any third party involved
If your claim also has a business interruption element the following documentation should be recorded and supplied to 4Sight Risk Partners, to be available as required in the claim process:
- Past experience of business
- Actual experience of business during the period of indemnity
- Sales/production records and forecasts during the period of indemnity
- Additional expenses incurred to reduce the period of indemnity or reduce the loss of production/sales
- Profit and loss statements and balance sheets
- Inventory records, quantities and values
- Scheduled maintenance during the period of indemnity
- Production records if applicable