Frequently Asked Questions (FAQ)
How does TechLoss' expertise make a difference in project outcomes, especially in cases of lightning strikes or power surges?
TechLoss’ expertise significantly impacts project outcomes by helping businesses and individuals recover quickly from equipment damage. For instance, in a commercial project where a business was hit by a lightning strike causing a power surge, TechLoss helped identify and evaluate damages, determine what was needed, and found solutions to get the business operational very quickly. This ensured the business could continue operations and employees could retain their jobs, even with business interruption insurance in place. Similarly, in a residential case involving a power surge that damaged an automated lighting system and other home infrastructure, TechLoss brought in the right resources and vendors to quickly identify problems and restore the home to a pre-loss condition, ensuring the residents regained their comforts. In both scenarios, TechLoss focuses on touching lives and making a significant difference for the insured.
What kind of litigation support and expert witness services does TechLoss provide?
TechLoss is periodically retained to assist with litigation support and expert witness services for cases involving damaged equipment and technology where there’s a disagreement. This can include understanding what happened, documenting events, identifying sustained damages, and determining if equipment can be repaired or needs replacement. For example, TechLoss is currently working on a case where a business’ transformer was replaced with an incorrect one, causing improper voltage and damage to multiple systems. TechLoss’ role is to help understand the incident, document damages, and assess repair/replacement needs for court proceedings. They can also review information submitted by other companies for accuracy or gather additional information for depositions or court testimony, even on projects they weren’t initially involved with.
How does TechLoss balance repair versus replacement recommendations, and what factors influence these decisions across different industries?
TechLoss approaches repair versus replacement recommendations by gathering information and conducting an analysis to identify the most cost-effective path forward. If a repair costs more than a full replacement (e.g.,100repair vs. 75 replacement), replacement is typically recommended. However, other factors are considered beyond just cost, such as compatibility with existing systems or software. For instance, in a door manufacturing facility where a fire damaged a central part of a custom door machine, TechLoss worked hard to find a repair option despite the complexity, as replacing the entire machine would have been far more disruptive and costly due to its integration with other sections. Factors like reliability, dependability, and ensuring the equipment is returned to a “pre-loss condition” (including reinstatement of service contracts, maintenance, and warranties) are also crucial. These factors generally apply to both commercial and residential losses, with distinctions only arising under specific extenuating circumstances.
How does TechLoss handle emergency response situations where businesses face significant downtime due to equipment failure?
In emergency response situations where businesses face significant downtime, TechLoss prioritizes maintaining business continuity. This involves helping to secure loaner or temporary equipment to keep operations running, assuming the client has coverage. TechLoss has purchased and rented equipment for this purpose. Specialized programs have been developed, such as one for dental offices, where we have pre-loaded research to identify national vendors for rental dental equipment or even complete temporary rental offices, which can be set up within a couple of days. TechLoss leverages its extensive network of contacts and a database of trusted, authorized vendors to quickly bring in the right resources and reduce downtime after equipment failures.
How does TechLoss maintain consistent service quality nationwide, and are there unique patterns of technical equipment losses in specific geographic areas?
TechLoss maintains consistent service quality across all regions by utilizing standardized processes and guidelines for project handling. Each project is broken down into smaller steps with defined stages, ensuring all necessary actions are taken consistently. This structured approach, guided by a comprehensive handbook, ensures uniformity in how projects are managed and information is gathered.
Regarding geographic patterns, TechLoss observes unique types of losses in different areas. For example:
- Areas with many wind turbines may see related equipment issues.
- Las Vegas often presents cases involving gaming equipment.
- Silicon Valley projects frequently involve unique, out-of-the-box equipment from startup companies.
- Coastal regions may experience corrosion-related claims due to proximity to the ocean.
- In specific areas like underground caverns in Kentucky, unique environmental factors can lead to unusual issues, such as “creep corrosion” on solder joints — as seen in a large server loss where a new, environmentally friendly solder reacted poorly with the environment.
What technological advancements or industry changes have most significantly impacted the types of claims TechLoss handles, and how has TechLoss adapted?
One of the most significant technological changes impacting claims is the transition from analog to digital systems, which occurred around the year 2000. Analog equipment used a range of voltages, while digital systems use binary (0 or 5 volts). This shift meant that manufacturers stopped supporting older analog equipment, making repairs difficult or impossible. Consequently, damaged analog systems often required full replacement rather than repair. Furthermore, because analog and digital systems are incompatible, the replacement of a single analog component sometimes necessitated replacing entire systems to ensure compatibility, significantly increasing exposure for clients.
TechLoss has adapted by developing extensive resources to facilitate repairs outside of manufacturer support. Their deep expertise and focus on this specific arena allow them to identify unique solutions and resources that others may not know exist, helping to reduce resolution times and mitigate costs for clients, regardless of the challenges posed by outdated, phased-out, or unsupported equipment.
Looking toward the future, what emerging trends does TechLoss foresee in technical equipment losses, and how is the company preparing to meet these evolving needs?
Looking to the future, TechLoss anticipates a growing dependence on equipment and technology in both personal and business spheres. This will lead to more complex electrical systems, increased automation in businesses, and a proliferation of smart home systems, home automation equipment, and various technologies (routers, computers, timers) in residential settings. TechLoss expects this trend to result in a greater volume and complexity of losses and projects.
To meet these evolving needs, TechLoss is actively preparing by:
- Growing the company: The team continues with expansion plans, having recently hired additional full-time staff.
- Expanding geographically: Additional offices are being added across the United States, with the newest locations now open in Las Vegas and Detroit, and other locations are already earmarked for future growth.
- Enhancing processes and procedures: We are continuously refining their internal operations to handle the anticipated increase in project volume efficiently.