Documenting the Loss

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