On any loss scenario, especially when international travel is required; onsite inspections may be required. The inspection allows Nardone & Company, Inc. to determine the best method of approach in order to fulfill our responsibilities efficiently and effectively. In addition, the inspection allows us to intelligently project our estimated expense versus the potential salvage recovery.

A perfect example of this involved a stock of damaged tobacco located in a duty free zone within the Dominican Republic. Prior to our involvement, the tobacco was originally categorized as wrapper. However, based on our inspection and research conducted with our resources, it was quickly determined that the tobacco did not meet the criteria to be categorized as wrapper. The leaves were evaluated for strength and based on this evaluation; the tobacco was downgraded to filler. As a result, the salvage recovery was affected. However, determining the accurate grade of tobacco resulted with the RCV value being adjusted so it corresponds with the grade.

Should the need arise; all Nardone & Company, Inc. personnel have valid passports if international travel is required.

As a dedicated business partner, it is imperative that we take prompt action to examine goods affected by the loss. The best results will be attained with prompt inspections, and damaged goods will be separated from the undamaged. This process provides us with the necessary information for a fair and honest opinion as to the potential loss outcome.

The professional salvage industry has a rich history, dating back to the late 1800’s when a group of insurance companies recognized the need for knowledge in the salvage process. Wisely, a group of merchants were organized and became an independent source to handle damaged goods.

Over many years we have developed a database of trusted resources and buyer networks. In addition, we are continually researching new markets to sell all types of damaged goods. This increases our opportunity of receiving the highest possible salvage recovery from buyers located within the United States as well as Overseas.

At Nardone & Company, Inc., our first priority is to provide you with all the facts and address methodologies that assist the adjusters to make valued decisions.

Some loss scenarios only produce added claims expense due to damaged goods, low salvage value, logistical costs and/or other factors such as co-insurance where salvage removal may not be the best option.

We will provide the adjusters with a written report if necessary to document their file and gladly welcome your calls and questions at any time.

Sound Advice, Predictable Results

Besides handling and selling damaged goods, one of the most valuable services provided to adjusters and risk management staff by a professional salvor is the Preparation and/or Verification of Physical Inventories. We at Nardone & Company, Inc. take great pride in developing innovative and cost effective methods to accomplish this process under any and all circumstances.

One of the very first aspects of a claim reviewed by adjusters, insureds and legal counsel is a jointly signed and verified physical inventory of the damaged goods and on occasion, the undamaged goods. If necessary, even debris can be combed and sorted through to assist the loss team in verifying quantities from a well documented on hand inventory system.

Additionally, we search for damaged returns and obsolete or discontinued goods. With this collection of data, we prepare a user friendly spreadsheet that all of the claim team and insured can utilize. If necessary, we will link up digital photographs and video to further illustrate the type and condition of the damaged goods being inventoried.

Although not always the most accurate measurement of the damaged inventory on hand at the time of loss, a documented physical count can be very helpful.

On a prior loss we were instructed to complete a post loss inventory of water damaged goods valued at over one million dollars. The damaged goods had been transferred from the original loss location to another warehouse center. As a result of us conducting an inventory at the warehouse, it was determined that over half the contents were missing.

We will always follow your instructions to the letter. However, when conducting an inventory may not be cost effective, you can count on Nardone & Company, Inc. personnel to advise you when in our opinion the process may be better suited by utilizing the services of a forensic accountant as an example.

We are the only professional salvor with three pilots on staff; two of which hold Airline Transport Pilot Ratings with thousands of flight hours in piston and turbine aircraft. As members of the National Aircraft Appraisers Association and USPAP endorsed, we meet the appraisal standards and qualifications as set forth by the United States Congress.

Having accumulated over forty years experience in the aviation world with the military, airlines, aircraft manufacturing, maintenance, aircraft pre-purchase and sales, appraisals and evaluations, as well as managing corporate flight departments, we can provide invaluable assistance.

Our team evaluated a multi-million dollar aircraft parts claim and quickly isolated millions in obsolete fuel controllers for Boeing 707 aircraft resulting in the values being corrected. This is just one example of the importance of utilizing experts that can conduct a thorough inventory verification and inspection.

Our staff has a wide range of experience in the handling and transportation of every conceivable type of goods, commodities and equipment. Having had the opportunity of observing all the errors that can and do occur over many years, we can provide cost effective solutions that make good business sense.

For many years our team has handled numerous claims that required us to document the machinery and equipment located within large manufacturing plants. Many of the losses were severe fire losses and we documented the equipment by sorting through the debris. We research the equipment details, obtaining accurate RCV and ACV values, which include freight and installation.

Our team has a wide range of mechanical qualifications that allow us to provide accurate evaluations.  With the ability to turn the wrenches if necessary, we have the expertise to make the equipment opertional.  This allows us to correctly gauge the salvage value of the equipment.

We have and will always make ourselves available to conduct training programs for insurance carriers and self insureds. We have conducted numerous presentations for various Claim Associations, attorneys, the Loss Executives Association and the PLRB.

We provide a step by step analysis of real loss studies with video and provide invaluable information to claim, risk management and legal professionals on the proper handling of commercial stock losses.

Additionally, we can provide training for property claims adjusters on what information to gather on the first inspection. If we are then notified of a loss assignment we can provide better advice, council and planning.

George Nardone has been a professional salvor for over 37 years and has served as an expert, appraiser and umpire on commercial stock losses when evaluation of inventory, damage, salvage value and proper documentation is being challenged.