Unbiased and for everyone
The Salvage Foundation was set up in 1986 by the then Association of Fire insurers in the Netherlands. Later on, this association merged into the Dutch Association of Insurers. The majority of insurers that sell insurances in the Netherlands are a member of this Association and therefore commit themselves to the joint (financial) agreements that have been made with the Salvage Foundation. These agreements have been recorded in a Financial Memorandum.
Salvage takes action after a fire, lightning strike and explosion. The fire brigade or the municipality may instantly make an appeal to the Foundation for this damage, after which the Salvage coordinator on duty will go to the scene of the incident. Insurance data are not yet available at that moment, but that is not a problem. Before leaving, the Salvage coordinator registers who the victims are, and where they are insured. If he cannot identify these data, then the Salvage Emergency centre will try to find them the next day. Subsequently, the Emergency centre will inform the insurer(s) involved about the damage.
Victims who have no insurance will also be provided with assistance and guidance. In such a case, the coordinator determines which measures are effective and needed. If costs cannot be passed on to the insurers because the building and the contents have not been insured, then they will be at the expense of the Salvage Foundation’s Guarantee Fund.
Not only for individuals
There are a lot of fires in the private sector. However, around almost 20% of the Salvage alerts relates to companies and institutions that are affected by fire. This may have major (financial) consequences in this sector, particularly when there is interruption of business. In 2015, the SME commissioned an investigation into the major business risks. The investigation shows that a business that went up in flames, runs a risk of 50% to go bankrupt within two years.
Salvage is able to limit the amount of damage by swift actions and rapid onward alerts for customers and therefore also for the insurer. 24 hours a day and 7 days per week the Salvage Foundation is at the ready to support the affected entrepreneur in a decisive way and with expert knowledge, by taking measures that limit the damage to inventory and business continuity.