What are the most expensive insurance claims ever made? If you’re one of the lucky few, you might never have to make a claim against your insurance in your life. For many other people, though, things do go wrong and they’ll make a claim. It’s one thing making a claim for a car accident or for a burst water pipe but the mere thought of having to claim for the amounts listed here will surely make all parties wince! Most expensive pet...
1st January 2009 saw the doors open to Flaxmans. The apocalyptic financial meltdown of the world’s banking system in October 2008 was largely the genesis of Flaxmans as it is today. Banks hunkered down to protect themselves and their assets from rapacious customers needing financial support, whilst interest rates hit the floor and disappeared through it. The often catastrophic consequences for banks’ customers led to a new level of ’prudence and caution’ amongst some insurance companies in paying out claims....
Australian Pharma finally get referred to Flaxmans to settle dispute At the other extreme of our many successful outcomes this year is an extraordinary multi-million-dollar claim made by a pharmaceutical entity under a bespoke policy underwritten in the London insurance market and sold to an Australian company. The entity bought an insurance advertised to cover the risk of the pharma’s development of its product through the stages on the way to market. The policy was developed by the insurer with some help...
A family of six lost their newly-purchased country home in a fire that started whilst they were abroad recovering from the stress of moving a family of six some two hundred miles out of London. They had bought insurance online and completed the application to the best of their knowledge and belief. Upon researching the loss, the adjuster discovered that a previous owner of the property had utilised a partly boarded-in (but not properly ‘converted’ attic space as a ‘snug’. However,...
