Major Insurance Claim

Castlepoint, Bournemouth

How do you manage a major structural failure while protecting trade, income and asset value?

The structural frame of a 900-space car park serving a 680,000 sq ft retail park had material design flaws, leading to temporary closure and reopening with extensive temporary propping.

Approach

The claim covered knowledge of the detailed technical and phased reconstruction process, rent and service-charge losses, asset market value and retailer compensation. Negotiations with 35 retailers and the insurers’ advisers were supported by technical evidence, forensic accounting and a carefully phased works strategy.

Outcome

• Claim in excess of £100m met by insurers
• Car park rebuilt with minimal disruption to trade
• Retailer and consequential losses coordinated within the claim
• Asset subsequently disposed of at full market value

Major claims require technical evidence, commercial judgement, stakeholder coordination and disciplined management of risk and value.