Case Overview

In April 2023, 60 tons of D-calcium pantothenate shipped by a Chinese pharmaceutical company to Hamburg, Germany, then stored in the warehouse located in Hamburg, Germany. The warehouse was caught fire, caused the warehouse and the property inside, including the D-calcium burned. The pharmaceutical company claimed USD 418,100.00 from its insurer. In July 2023, Frad was commissioned by the insurer to conduct a survey on-site to investigate the accident at Hamburg.

Process

1. Frad risk management engineers went to the scene of the accident in Hamburg to conduct a survey on-site and had several meetings and communications with all concerned parties to understand the origin of the accident.

2. Estimated the nature and extent of the loss. Analyzed the origin of the accident.

3. Submit the findings to a report and confirm the loss origin was the warehouse fire. Before the warehouse fire, some D-calcium pantothenate had been distributed to the Consignees. According to the Policy, the insurance liability terminated when the shipments arrived at the last warehouse or storage place of the Consignee specified in the policy and other storage places used by the insured for distribution, dispatch or other abnormal transportation. Therefore, the policy liability in this case terminated once the shipment arrived at the warehouse, and the loss was not covered by the insurance.

 Process

Result

Since the loss was not within the policy coverage, the insurer was exempted from compensating.

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