Company Response
11/2/2022
We are a transit insurance brokerage; we administer a third-party insurance program to movers designed to provide their shippers with coverage for loss or damage to their household goods while in the care of a professional mover.
Mr. Peterson purchased transit insurance through his mover, Element Movers. Element Movers placed coverage in his name through our brokerage, TG International Insurance Brokerage Inc. He was assigned policy #102384 (see attached copy)
At time of requesting coverage, Element remitted the attached signed application form and value list (indicates what the shipper is insuring and the declared insured values for each). On this value list, among the items, he declared:
Coffee Table – 1 @$200.00 * Dinosaurs – 2 @ $1,000
The total value insured was $39,800.00
On July 6 2022, we received a claim from Mr. Peterson for damages to items handled by Element (see attached claim form). He is claiming damage to the table in the amount of $350.00 as well as total loss to a ceramic dinosaur in the amount of $1,000.
As you can see, we settled the claim "as claimed" (see attached settlement letter). The coffee table was considered in the amount of $200.00. The amount considered for the dinosaur was $500.00, since he insured 2 for $1,000, for insurance purposes each one was insured for $500.00
Mr. Peterson's policy had a $50.00 deductible, making the total settlement to be provided, $650.00.
We sent settlement and the claim release (attached) to Mr. Peterson on September 22 2022. First, he indicated he meant for each dinosaur to be insured for $1,000. The value list we received however, does not support this. The coverage we provided was based on the value list remitted which shows "2 dinosaurs [sculptures] @ $1,000" rather than 2 @ $2,000 (this would make each worth $1,000). The total of the value list supports that each was insured for $500 not $1,000
Mr. Peterson then refused to sign the claim release. This is required by the insurance company that provided the coverage in order for them to release payment to him. Despite repeated attempts to get this signed, he has not complied. This is standard to the insurance company's settlement of claims. We secure a claim release and the banking information from the shipper so the insurance company can wire the funds.
Since we have been unsuccessful in securing the claim release and banking information, the file is inactive. The insurance company handling the claim will not proceed without hearing from him.
Thank you. I hope this outlines 1) that we have provided the service Mr. Peterson secured through our brokerage via his mover and; 2) we have provided him with the amount he remitted the claim for. Any delays at this point are due to Mr. Peterson, not our company.
Please contact me if you have additional questions.
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