Most brokers who’ve been in the business for more than a few years will have heard their fair share of unusual recovery stories and, recently, it was the turn of specialist brokerage BikeSure.
Luke De Laurence, e-commerce manager for the firm, said BikeSure had settled a claim for stolen property with minimal fuss so were somewhat surprised to hear from the client just a few weeks later.
“Our client has exited his office for his lunch break and was walking down the street in the middle of Adelaide, when he spots his stolen bike being ridden by a guy who obviously isn’t your typical MAMIL,” said De Laurence, using the cycling lingo and acronym for middle-aged man in Lycra.
Despite the claim being finalised, the enthusiastic client took chase, eager to retrieve his bike – but the eventual destination couldn’t have been more ironic.
“He runs after him, down the street, around corners, basically stalking the guy he’s seen riding his bike,” said De Laurence. “It turns out he’s heading to the Magistrates Court, where he was due to appear on a separate matter!”
After photographing the man, who was wearing a tracksuit for the occasion, the client decided to follow him into the courthouse.
“When he gets inside, he finds the guy debating with the security guards because they won’t allow ‘his’ bike through the checkpoint!” says De Laurence. “The guy wants to know where he can leave it, so it won’t get stolen!”
Bolstered by the somewhat safe location he’d found himself in, the brave client then approached the alleged thief and confronted him.
“Seizing his moment with plenty of security guards close by, our client went up to the guy, taps him on the shoulder and says; ‘Don’t bother trying to lock it up mate, it’s my bike!’
“There is the usual denial and defensiveness at which point our client whips out his phone and shows off pictures of the bike in his possession.”
At this point, the man blames the theft of the bike on his absent friend, before bowing to the pressure of everybody in the room and giving up possession of the bike.
Sharing the story with Insurance Business, De Laurence said both the client and BikeSure’s claims handlers saw the funny side of the situation – and will hopefully be able to secure a more favourable outcome for the customer now that the bike is back.
“As it’s clearly functioning, the insurer ought to reclaim it, and the client’s claim loss recorded on file ought to be reduced by the salvaged value,” said De Laurence.
“He can offer to buy the bike back off the insurer, which is typically what they would prefer as it’s significantly easier for all involved – it’s a guarantee reduction to their loss and they don’t have to resource the collection, assessment, repair and resale.”
De Laurence also noted that, for some insurers, this might help reduce any premium increases being applied as a direct result of claims history.
“It might also prevent an enforced excess being applied to a policy,” he added.
