LMI Group are known for taking on the large and complex losses, but the company also assists individuals and small business that are not being fairly treated under their contract of insurance.
In this case, a small restaurant that had been going for many years suffered a small, but crippling fire. The Insurer's loss adjuster was not proactive in arranging repairs to be completed and with no income for four months, the restaurant owner accepted an offer for the building and abandoned the restaurant. The Insurer then denied liability for the Insured's business interruption claim, saying that this was allowed in accordance with a clause in the policy.
The clause was in fact being misinterpreted and the Insured was entitled to claim from the date of the damage to the date that they elected not to continue the business. Furthermore, it was the fact that the agent of the Insurer, the loss adjuster's slowness to respond, that forced the client to sell the building. If the adjuster had acted at a reasonable speed and or recommended progress payments, the Insured would never have entertained the offer to sell.
Regretably, LMI was only appointed after the decision to sell the business was made and the business interruption claim had been denied.
LMI could not put the toothpaste back into the tube and save the business as we would have done had the Company been appointed at the time of the fire. We were able to get the decision to deny the business interruption claim reversed and the Insured's full entitlement paid. Today, the two insurance experts that resolved the matter received the following email of thanks.
5th June 2012
Attention: Prof. Allan Manning & Gordon Lum
Dear Allan & Gordon,
I would like to thank you both for acting on our behalf. It is encouraging in this day and age to witness a team of dedicated, knowledgeable and professional people who are prepared to rigorously defend the rights and entitlements of ordinary people.
Once again, Natalie and I would like to express our gratitude for your achievement. You will be highly recommended both now and in the future.
Good luck in your future endeavours.
Natalie & John