Vera’s* only evidence of her stolen jewellery was photos of herself wearing it at a party. A recent valuation would have helped her claim significantly. She commissioned a post-loss report, which valued the jewellery at $56,887.
Because she had been unable to provide sufficient proof of ownership or value, the insurer had the discretion to decide whether to pay the claim. The insurer offered Vera $27,846. The IFSO Scheme said the settlement was fair and reasonable, because of the lack of evidence.
Complaint not upheld.
*Names have been changed.