Track record
In line with current market development and our clients’ needs, in recent years we have also started handling claims under Contingency and Cyber Risks policies and developed loss management software, among others.
Similarly, from our current headquarters in Buenos Aires, Argentina, we have extended our geographical coverage and now have offices in Brazil, Chile, Ecuador, Mexico, Paraguay, Peru and Uruguay.
We are currently considered market leaders in the region, which has led us to handle some of the most noteworthy losses in our area of coverage.
Our history
Our history dates back to 1886, when Edward Cooper established his own company in Uruguay and, ten years later, was appointed “Lloyd’s Agent” in Montevideo.
In 1911, four of his sons founded our company in Buenos Aires, which received the Lloyd’s Agency appointment in 1922 and has been retained to this day.
Building on the experience acquired in the handling of marine claims and surveys and the adjustment of cargo losses, we have developed into a fully-fledged international loss adjusting and surveying company, handling a wide variety of claims in other fields, including Commercial and Industrial Property Losses, Operational All Risks, Construction & Engineering, Business Interruption, Liability (all classes), Aviation, and Financial Lines.
Our history
Our history dates back to 1886, when Edward Cooper established his own company in Uruguay and, ten years later, was appointed “Lloyd’s Agent” in Montevideo.
In 1911, four of his sons founded our company in Buenos Aires, which received the Lloyd’s Agency appointment in 1922 and has been retained to this day.
Building on the experience acquired in the handling of marine claims and surveys and the adjustment of cargo losses, we have developed into a fully-fledged international loss adjusting and surveying company, handling a wide variety of claims in other fields, including Commercial and Industrial Property Losses, Operational All Risks, Construction & Engineering, Business Interruption, Liability (all classes), Aviation, and Financial Lines.
In line with current market development and our clients’ needs, in recent years we have also started handling claims under Contingency and Cyber Risks policies and developed loss management software, among others.
Similarly, from our current headquarters in Buenos Aires, Argentina, we have extended our geographical coverage and now have offices in Brazil, Ecuador, Mexico, Peru and Uruguay.
We are currently considered market leaders in the region, which has led us to handle some of the most notewoerhy losses in our area of coverage.
Throughout these years, we have deepened our experience, thus consolidating our position in the market.
Throughout these years, we have deepened our experience, thus consolidating our position in the market.
Some noteworthy losses
FIRE AT PORT TERMINAL
Fire in a chemical/fuel tank at a port terminal and subsequent spread to other tanks. Aerial, marine and land-based fire fighting and control operations, with the participation of authorities and other companies, over ten days. In addition to the damage to the terminal and products stored therein, the entire area of the port was evacuated and shut down for a long period of time. Fire fighting and control operations caused damage to environmental resources.
BLAST FURNACE EXHAUST GAS SYSTEM
The dust collector of the blast furnace exhaust gas cleaning system of a Brazilian steel plant collapsed, resulting in the sudden shutdown of the blast furnace with subsequent solidification of the cast iron inside the unit. The repairs took approximately six months. In order to minimise the loss of sales of steel products downstream, almost one million tonnes of steel slabs were acquired to be incorporated in the production process.
CYBER HACKING/EXTORTION
Unauthorised access to a company’s confidential data base with highly sensitive information, with data stolen and subsequent extortion under threat of disclosure. High quantum claim as a result of business interruption / incident response expenses. In order to investigate and analyse this case, we worked intensely with our forensic experts specialised in cyber security risks. This is the first “Large & Complex” case of cyber security risks in the country where it occurred.
VESSEL SUNK WITH DORE METAL BARS
The vessel, loaded with 474 bars of dore metal (gold and silver), was sailing from Argentina to Chile. Due to heavy weather, she was abandoned by her crew and subsequently sunk in deep waters 25 miles from the shore. Given that the cargo was highly valuable, a full salvage operation was carried out, which required locating and inspecting the vessel with an underwater ROV, and subsequently having the cargo recovered by divers.
SHIP UNLOADERS
As a result of having been displaced by strong winds, two ship unloaders of goods in bulk at a port in Brazil were destroyed and other two were rendered unusable. Consequently, the port terminal lost its entire unloading capacity. The measures implemented to minimise the resulting loss included: unloading vessels at other ports, installing temporary unloading equipment at nearby terminals, chartering self-unloaders and negotiating expediting delivery periods for new unloaders.
TAILINGS DAM COLLAPSE
Breach of a large tailings dam, causing the spillage of approximately 33 Mm3 of semi-liquid tailings downstream. The tailings mass destroyed natural resources, infrastructure and severely affected several populations, resulting in catastrophic consequences, including the loss of human lives. This complexity of this case arose not only from the catastrophic scope of its consequences, but also the entire investigation into cause.
Railway
Heavy rainfall resulted in a significant increase of the flow of a river in Peru, causing the erosion of the river banks along which the railway runs. Consequently, in some sections, the railway remained hanging in the air, without any supporting structure below, whilst in others, it collapsed completely. Despite the difficulties to access the area, since the adjacent roads were also affected, it was possible to perform temporary repairs that enabled the rapid resumption of operations, thus minimising the business interruption loss.
CATASTROPHIC GAS EXPLOSION
A medium-pressure gas leak inside an apartment building caused an explosion followed by the total collapse of one of its towers. This tragic event occurred in a residential/commercial area. Twenty two people died, dozens were injured and there was extensive property damage in the entire area. After investigating and analysing the case with a team of international experts gathered therefor, within a few days we were able to put together a permanent team composed of specialised personnel and obtained all the resources necessary to assess and manage the hundreds of liability claims filed as a result of the event.
COMBINED CYCLE POWER GENERATION PLANT
As a result of a failure in their protection systems, a steam turbine and its corresponding generator operated without lubrication, thus sustaining damage to the journals, bearings and seals of both rotors. Following the analysis of the different possible options, both rotors were airfreighted to Europe for repairs.
