MDD was hired by insurers to review the economic damages in relation to a loss of stock that resulted from a warehouse fire at a Spanish food manufacturer.
Due to the extent of the fire damage all stock on site was destroyed. In addition, damage to the administration offices meant that all paper records were also destroyed.
Our role was to assess the volume and value of stock for each stage of production by reviewing the accuracy of the insured’s accounting system prior to loss, the stock recording procedures in place and the contractual agreements with suppliers.
We were able to determine a correct loss value of approximately EUR 4M.