Case #1: A Race Against Time
- A theft of 12 unusual fine and antique Oriental Rugs from a high end store was reported. A handwritten inventory was submitted and a surveillance camera with an obstructed view that was mounted on a nearby building documented the entire process of breaking in, loading up the rugs into a small SUV and driving away
- We were called to review the inventory records, place values on the rugs that were reported stolen, and determine whether the theft could be accomplished in the 2 minutes 45 seconds recorded on the surveillance camera.
- We reviewed all pertinent purchase and inventory records. Relying upon our decades of experience and current in-the-market knowledge, we were able to confidently place replacement values based on the current market value of rugs of like kind and quality.
- The only way to determine whether the theft could have been accomplished in the recorded time was to reenact the event. This is where our expertise again proved valuable. We assembled a collection of 12 rugs that, when rolled and stacked as reported by the insured, were of the same size and weight as the rugs that were reported stolen.
- From evidence recorded at the scene we knew the size of the break in the glass door as well as the make and model of vehicle. We placed the 12 rugs the same distance from the door that was reported by the insured in their claim.
- Our opinion of the actual value of the 12 rugs, supported by empirical data, was significantly less than the amount claimed by the insured. As far as the logistical question, we ran the re-enactment 3 times.
- From driving up to driving away, each time it took less than 2:45 and all of the rugs fit easily into the SUV.
Based on our research and analysis, the claim was settled shortly thereafter.