Insurance Institute of Bradford - Household Insurance Seminar
The Insurance Institute of Bradford hosted an afternoon of seminars and invited 4 key speakers to discuss a variety of topics relating to Household insurance claims.
Aston Charles’ Consultant, Saraya Fawcett, attended the event and here is her summary of the afternoon.
Clare Pardy – Fine Art Underwriter - Ecclesiastical
Clare opened the session with an impressive presentation covering a range of Fine Art and Antique items and how insurance works in many different ways. For example, you can insure an item for the reinstatement value or an open market value. The value of items varies due to a number of rating factors such as the artist, the subject matter, size and the materials used. Whilst some items will lose value once they have been damaged and repaired, the most famous and highly valued vase would be the Portland Vase, however this has been broken and smashed into tiny pieces several times!
In 2009, a set of rare porcelain vases were stolen from Firle Place, Sussex. This was an extremely well planned and thought out burglary. The thief staked out the home, due to it being open to the public. The manor home had a top of the range alarm system fitted, however it wasn’t sophisticated enough to stop a professional thief. During his stake out, he noticed the alarm would only trigger from the opening of the internal door to the room where the vases were kept and the sensors only covered half the room... One night, he took a ladder to the upstairs window, climbed through and shuffled along the wall (as to avoid the alarm sensors) towards the fireplace where the vases were kept, removed the glass cases and took the vases… whilst we don’t condone this behaviour, ten out of ten for effort!!
Please see Clare Pardy’s full presentation at the following link:
John Freeman – Counter Fraud Director - Questgates
Known to his friends as ‘Half man, half bloodhound’ and serial baby maker with 6 children! (I think you need to purchase a TV John?) He presented an extremely impressive, detailed and in-depth presentation on fraud within the UK.
John’s sense of humour and natural mick taking (of which Stephen McGettrick fell victim to) enabled him to deliver a highly enjoyable, fun and interactive session.
If you would like a copy of John's presentation, please feel free to call Saraya on 0845 8388 770.
Stephen McGettrick –Business Development Manager - Rainbow International
After public humiliation about his suit from John Freeman, Stephen took the floor to discuss Fire & Flood restoration topics such as Drying Out Techniques, Smoke Deodorising, Reducing Drying Times and Reducing Claims Costs.
Due to Stephen working at Cavalier Carpets for 7 years prior to joining Rainbow, he was able to open the floor to questions about carpet stains, whether it be for personal gain or reflecting on customer trends.
Robert Bolton – Jeweller - N G Bolton Jewellers
Robert closed the session by discussing jewellery pieces and their real value and weight. A lot of stones are coming from overseas and some stones are injected with resin, enhanced with glass filler, and go through a number of processes on the black market before they are sold on as rare and valuable stones. One example he spoke of was a customer who had purchased a diamond ring quite some years ago... at the time of purchase the stone was given a GIA diamond grading report. A few years after purchase, the customer had the stone set onto a gold band by a reputable jeweller. When the customer changed insurance providers for their home insurance, they were required to have the ring re-valued and she brought it along to Robert. He noticed that the weight and size of the diamond did not match the original certificate that she was given when she initially purchased the ring and a repair had been carried out on the corner of the stone. It was later revealed, when the ring was taken to the jeweller to be mounted onto a band, that he had accidently broken the diamond and covered this with a resin repair. Due to the customer having proof from certified certificates, the jeweller replaced the whole stone and issued a written apology – you can never be too careful!
I am sure that anyone who attended this seminar would agree it was a great afternoon – highly informative and an opportunity to learn from other technical specialists. David Codling from the Bradford institute organised this event and has many more scheduled for the remainder of 2012. Whilst priority is given to CII members, he welcomes non-members to get involved also.