The Claims Network

Valuation for Insurance Industry

Gossan holds a 47% equity investment in The Claims Network (TCN), a web-based technology company with an extensive library of product data information, engaged in providing the Property and Causality Insurance Industry with loss assessment valuations.

Most recently TCN has been focused on establishing a network of independent assessors in key regional markets to handle on site claims and providing a capability for direct online client access to its data library. TCN operates profitably and has adequate cash to pursue and develop its business. During the 2009 fiscal year, Gossan established a non-cash mark-up of $73,620 (2008 - $38,840) in its investment to reflect Gossan’s share of TCN’s profits during the period.