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28 May 2018 |
Practice of getting insurance compensation: acute issues of loss adjustment
On 24 May 2018, VEGAS LEX law firm in association with Cunningham Lindsey and the Union of Insurance Experts and Adjusters, with the support of the Russian Managers and Developers Guild held a round-table meeting devoted to "Contemporary practice as to receiving insurance compensation. Client-oriented approach and a "fair loss". Sergey Bukreyev, Director of Cunningham Lindsey and Chief Expert for legal analysis, welcomed the audience and spoke of ambiguity and complexity of the issue of receiving insurance compensation. Viktor Petrov, Head of Litigation Practice of VEGAS LEX, shared its point of view concerning peculiarities of insurance disputes. The lawyer defined elements of an insurance case and reviewed position of courts in terms of absence of an insured event giving remarkable examples from the experience of the law firm. Mr. Petrov highlighted the issue of cause and effects in insurance sector, spoke of ways of proving such a cause and effect linkage in insurance disputes. Sergey Bukreyev addressed the issue of reduction of insurance compensation, describing the grounds and studying relevant court rulings and judicial precedents. The expert reviewed cases of invalidity of insurance contracts, application of wear and tear when calculating the compensation and reimbursement of additional expenditure through practical examples. Mr. Bukreyev paid special attention to the aspect of documented evidence of a loss. Dmitry Vasin, Head of Loss adjustment department of VTB Insurance LLC, raised the question on where the boundary between the client-oriented approach and a "fair loss" goes. He touched upon the issue of a client-oriented approach both in retail business and in corporate business, spoke of difficulties in achieving a balance of interests. The insurance expert introduced key elements of efficient insurance work to participants of the event. At the end of the round-table discussion, Pavel Shaptsev, Managing director of UIEA, specified a role of a loss adjuster in the insurant-insurer interaction in the course of loss adjusting, and differentiated between functions of loss adjusters and those of loss assessors in Russia and abroad. The round-table meeting stood out because of a vivid discussion. Participants asked many interesting questions and got the answers from the experts invited. The topic of discussion turned out to be very acute. The audience appreciated the event. *** For more information on VEGAS LEX’s litigation services, please click here.
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