You work for a large insurer as the claims manager, and you are being interviewed by the Press regarding extensive damages to a number of homes, businesses and injuries suffered by various claimants after a tornado hit your town in Western Canada. You know there were several fires from power lines falling on some buildings, other buildings demolished from heavy winds, bridges collapsed and automobiles damaged or crushed from fallen trees. You tell the Press reporter that your company had several claimants with various types of policies such as Property (Fire) policies, All risk floater policies, Automobile policies and Liability policies.

 

Explain what would your comment be to the Press reporter about the following scenarios regarding the typical basis of settlement and the method used to calculate indemnity. 

Vehicles that have been badly damaged.

 Homes that have been severely damaged or destroyed by fire or those   demolished by heavy winds.

Antique furniture, expensive carpets and paintings destroyed in an area with expensive homes.

The Press reporter asks you to explain the policy settlement where a claimant had two policies covering the building that was completely destroyed by the Tornado. 

Explain how you would utilize certain clauses in the policy to settle the claim? 

A bridge under repair, which had some equipment owned by the city that was carelessly left there, collapsed and the equipment fell and  damaged vehicles parked on a street below the bridge.

Explain to the reporter  what recourse (action that can be taken) the insurers  providing auto coverage to the damaged vehicles would have.