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Indemnity Paid For Our Client’s Car Stolen Abroad

BritMark’s Client left his Lexus GX 460 at the guarded parking in one of the Baltic states but when he returned for it two weeks later, the car was gone. The incident took place in May this year. The absence of information on the car in the Interpol’s database served as a main obstacle for the claim settlement. However BritMark’s efforts were not in vain. On July 17, 2015 our Client received indemnification worth of the whole sum insured in the amount of UAH 588,196.85 with the market price of this vehicle being about UAH 900,000 at that time. The reason for it was the currency exchange rate fluctuation, since the USD exchange rate changed from 11 UAH/USD at the moment of signing the insurance policy to 22 UAH/USD on a day when the indemnification was paid. Our Client’s decision not to pay extra UAH 10,000 for increasing the value of the insured car brought about over UAH 300,000 worth of losses when he faced the insured event.