Search
 

Contents Claims Solved: The Case of the Lalique Sculpture

If an adjuster doesn't look hard enough or in the right places, he could end up overpaying a claim by a significant amount. A limited edition sculpture by Lalique, a world-renowned crystal sculpture and glassware designers, provided such a challenge.

By Tom Kirkpatrick | Updated on October 18, 2010
Adjusters don’t spend too many sleepless nights wrestling with how much a popular television set costs or what the replacement value for an MP3 players might be, but specialty claims items are another story altogether. If you don’t look hard enough or in the right places, you could end up overpaying a claim by a significant amount. A limited edition sculpture by Lalique, a world-renowned crystal sculpture and glassware designer, provided such a challenge to our intrepid adjuster in this installment of Contents Claims Solved.

The Lalique piece in question — a crystal figurine sculpture of two kneeling angels — had a small chip. The insured claimed the item as a total loss and presented a letter from a Lalique manager stating that the retail replacement price of the piece was $70,000.

RELATED ARTICLES:The Case of the Tranquilizer GunThe Case of the Model Jet

With a replacement cost policy in force, the adjuster could have left it at that and paid full retail price, but instead decided that such a valuable and unique item warranted a deeper investigation for both claim and salvage purposes. The adjuster worked with a specialist contents claims firm to help determine whether or not the sculpture could be repaired instead of paying the full replacement cost.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.