This item was the cost of CCTV damaged, it located within the area was affected by water and upon checking by technicians it was found that the CCTV was no longer functioning. This indicates that the CCTV may have short-circuited when it came into contact with water. In this time the Insured had to replace this damaged item.
The Insured submitted a claim for this cost which was based on a quotation from Boundary Solution Co., Ltd. in the amount of Baht 5,778.00 including VAT. We carefully checked the scope of works claimed against the scope of works which we had inspected during our site visit. We had to check the specification of CCTV, we found that it was similar to the original and that there was no betterment.
As a result, we accepted that the quantities which had been claimed for this item could be accepted without adjustment. After making market enquires we were prepared to accept that the costs claimed were reasonable. However, we have to delete the VAT from our adjustment because the Insured can be recovery.
Summary
In this policy has no deductible for the cause of water damage. As a summary, the net adjustment for this claim is Baht 461,531.11.