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Thomas Judge
Thomas Judge, Solicitor Advocate
Category: UK Law
Satisfied Customers: 32824
Experience:  Award winning lawyer with over 15 years experience
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We have recently had our warehouse burgled and are about to make our insurance claim. Our

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We have recently had our warehouse burgled and are about to make our insurance claim. Our insurance policy is in the name of our main company but we actually have a second company that we run from the same premises. £2500 of the stock that was taken was actually owned by this second company at the time of the robbery (we import this stock from the USA and some of it gets sold to our main company and the rest is sold to other businesses). I'm concerned that as all of the paperwork for this stock are in the other company's name, that we may not be able to claim for it. I dont know if commercial business and contents insurance covers what is essentially third party stock. Its been suggested to me that we could just retrospectively invoice the stock to the main company on a date before the burglary took place, but I'm concerned in case that would be considered fraud. Please could you advise us on the best course of action?
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That would be usually considered fraud, particularly with respect to the timing of such a transaction and the simple fact that it is not technically correct. You will need to check the actual terms of the insurance - but the second company may well have a claim against the first insured company and this may be covered in the insurance in any event. Hence the need to go through the actual wording of the policy.

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Customer: replied 3 years ago.

Ok, thanks. I cant find any reference in the insurance terms to third party owned stock or contents. How would a third party claim normally be made?

Normally they would either seek you insurance details and go direct to your insurer or set out the claim in writing to you and you forward to your insurer for them to deal

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Customer: replied 3 years ago.

Ok, thank you.