With the assistance of Claims Link, an additional €200,000 compensation was secured for fire damage.
Significant damage was caused to Kalustetalo Kinnunen's and Liiketalo Kinnunen's property and premises due to a fire started by minors. The most challenging aspect of the situation was the insurance company's compensation decision, which proposed a 25% deduction based on protection guidelines. Claims Link, a company within the same group as Söderberg & Partners, took over the case, and as a result, Kalustetalo received an additional €200,000 in compensation from the insurance.
Insurance Company's Decision a Big Shock
"I nearly broke down in tears when I calculated how many hundreds of thousands of euros we would have to cover ourselves if the insurance company compensated us so little," recalls Hanna Kinnunen from Kalustetalo Kinnunen.
"I imagined that since we have been paying for business insurance our entire lives, the compensation would be fair as well. I thought the only option would be to hire our own lawyer, but most of them don’t even have specific experience in insurance matters," she continues.
In damage situations, many companies, especially smaller ones, are relatively powerless against the compensation decisions of a large insurance company. Often, businesses lack the resources to fight against the insurance company while their daily operations and recovery from the damage take up all their time and energy.
Kinnunen became a client of Claims Link by chance when a Söderberg & Partners representative saw a newspaper article about the company.
"There was a big article in an entrepreneurial magazine about our damage and the unjust outcome. A representative from Söderberg & Partners contacted us and suggested collaboration. I didn’t even know that such help was available, but afterwards, I’ve told all my fellow entrepreneurs about the service. I believe many business owners are in the same situation," Kinnunen explains.
Negotiations Led to a Settlement
Kalustetalo and Liiketalo Kinnunen had initially tried to handle the damage situation themselves with the insurance company but were unable to get the protection guideline deduction changed, even though there were good reasons for it. After reviewing the materials and the case, a Claims Link expert prepared a request for correction to the insurance company.
After that, Claims Link experts continued the discussions and negotiations with representatives of the insurance company. Eventually, Kalustetalo Kinnunen signed a settlement agreement with the insurance company, resulting in an additional €200,000 in compensation.
"We received very good and professional service throughout the entire process. We were constantly kept informed about what was happening, so communication was excellent," says Hanna Kinnunen.
Although Kalustetalo and Liiketalo Kinnunen still ended up €100,000 short of the actual damage costs, the additional compensation was significant for the company, according to Hanna Kinnunen.
"We decided to settle because we realised that we didn’t have the energy to fight in court for several years. Unfortunately, we ended up switching insurance companies afterwards. We felt that the insurance company was testing the waters with the original compensation decision to see if we would accept such a solution or have the stamina to fight," Kinnunen reflects.
Claims Expert Reminds of the Importance of Protection Guidelines
In the case of Kalustetalo and Liiketalo Kinnunen, the insurance company made deductions from the insurance compensation based on protection guidelines. The insurance company’s view was that flammable materials had been stored on the company’s loading dock, contrary to the protection guidelines.
"In this case, the outcome was ultimately quite good for the policyholder, and a fair result was achieved. In general, I can’t stress enough the importance of protection guidelines," says Ville Partanen, CEO of Claims Link.
"Protection guidelines may seem like insignificant fine print at the end of an insurance contract, but it’s important to remember that they are still part of the agreement. The guidelines often contain basic instructions for risk management and damage prevention, which can also be genuinely beneficial to the company itself. In damage situations, it’s easier if you have followed the protection guidelines, although we’re always happy to offer our services," he adds.
Kalustetalo Kinnunen
Kalustetalo Kinnunen is a third-generation family business that has been operating for over 60 years, with more than 1,000 square meters of retail space in Leppävirta. The company sells furniture, rugs, lighting, and fabrics, among other things.
