Cayman General Insurance Co. Ltd. et al v. Crawford Adjusters (Cayman) Limited et al
The plaintiff provided insurance coverage to a strata plan for a condominium development, which was damaged following Hurricane Ivan. The defendants had been retained by the plaintiff to provide loss adjustment, project management, and additional quantity surveying services for the repair and reconstruction of the property.
The plaintiff subsequently sued for improper management of the reconstruction of certain condominium units. The court determined that the plaintiff’s claim should be dismissed.
KRyS Global was retained by one of the defendants to calculate the damages suffered by the defendant as a result of the litigation and its publicity in local media.
KRyS Global conducted its research and analysis, and calculated an estimate of the damages and losses suffered by the defendant following publication of the article in the local newspapers.
The KRyS Global report was filed with the court and resulted in a settlement between the parties.
The KRyS Global report established an independent, reliable baseline in settlement discussions and was the starting point for a successful negotiation of the damages incurred by the defendant.
After a leading decision in the Privy Council, the defendant was successful in collecting the settlement amount plus interest.