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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

Project Recaps

CNC Machine Breakdown

12/17/2018

1 Comment

 
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ILC Assignment:
  • Inspect insureds damaged machine.
  • Determine if the machine is restorable to pre-loss condition.
  • If restorable, determine scope of work to be completed, cost and timeframe.
  • Provide RCV and ACV valuation for the damaged equipment. ​

ILC Inspection Details:
  • ILC thoroughly inspected the machine to determine if it was restorable to pre-loss condition.
  • ILC reviewed the new replacement quote of $750,000 provided by the insured.
  • ILC noted damage to the CNC spindle.
Summary:
  • The loss was caused by an operator error where the spindle crashed into the X-axis, not a defect on the machine.
  • ILC determined the machine loss was feasible to restore to pre-loss condition.
  • ILC provided an ACV valuation of the equipment.
  • ILC obtained an repair quote that was $616,000 less than the insured supplied replacement quote.
  • ILC believes that once the B-axis is replaced and the geometry is adjusted the machine will be back to pre-loss condition and functionality. 
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1 Comment
Sara L. Bryant link
5/26/2021 10:25:35 am

This is very helpful thank you for sharing.

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Industrial Loss Consultants Inc

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

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