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Industrial Loss Consultants
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  • About Us
    • About Us
    • Events
    • Commitment to Diversity
  • Our Services
    • Services Provided
    • Our Process
    • Area of Expertise
    • Types of Losses
    • Who We Serve
    • Cause and Origin
    • Project Recaps
  • Submit An Assignment
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Manufacturing Industry Project Recaps: Fire Damaged Mining Equipmnet

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ILC Assignment:
  • Site visit of a loss event in which various equipment was damaged as the result of a fire.
  • Perform a visual inspection of damages to the equipment, including an inventory of all equipment in the facility, to determine full replacement costs for coinsurance purposes.
  • Determine if the equipment appears to be a candidate for cleaning/repair, or if new replacements will be required.
  • Review any submitted repair/ replacement estimate for equipment and validate scope.
  • Acquire new replacement costs and estimate the actual cash value for items deemed destroyed.
ILC Inspection Details:
  • Upon inspection, ILC discovered that most of the equipment was located in the portion of the building where the fire had originated.
  • Inside the machine shop, ILC found various pieces of equipment, including manual lathes, mills, CNC machinery, and a forklift.
  • The machinery inspected by ILC did not appear to be candidates for repair or restoration with a few exceptions. At the back of the facility, ILC documented an air compressor and air dryer that both were candidates for repair.
Summary:
  • ILC determined the full replacement value of the machinery and equipment in the facility to be $1,573,000.
  • Upon our final review of the damaged equipment, ILC validated a total of $720,989 for the full replacement and repair value of the damaged equipment.
  • ILC determined the ACV of the fire damage equipment to be a total of $325,376.
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Industrial Loss Consultants Inc

1699 Wall Street, Suite 218 
Mount Prospect, IL 60056
Phone: (800) 497-4030

About Us

Events

​Services Provided

Our Process

Area Of Expertise

Types Of Losses

Who We Serve

Contact Us
Submit an Assignment
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