From the monthly archives:

May 2010

Avoid Cyber Crime By Keeping Your Eyes Open … Literally!

by John May 28, 2010

When attending the Windy City Summit last week, I had the opportunity to sit in on many of the fraud seminars. Two of the sessions were heavily focused on cyber crimes, including unauthorized intrusion into corporate computers and networks as well as identity theft. Specifically, there was a significant amount of discussion around hackers getting [...]

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What Do Treasury Professionals Care About?

by John May 25, 2010

I noticed that treasury professionals are taking a more visible role in the purchasing of insurance, setting business interruption values at risk, and settling property and business interruption insurance claims. I’m not sure if this is due to the impact on treasury and cash during these economic times, if it is a function of eliminating [...]

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How to Document Employee Time Related to a Business Interruption Insurance Claim

by John May 20, 2010

All reports from Nashville indicate that the city, its residents, and businesses are working towards recovering from the terrible flood.  Companies that experienced a business interruption loss due to the flood may choose to use their own employees to perform clean up and repairs to the physical facilities.  If your business is using its own [...]

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No Good Deed Goes Unpunished

by John May 17, 2010

I recently worked with a company that had a fire at their R&D location that resulted in a business interruption loss. Amazingly, they had an endorsement that covered their continuing expenses without having to identify a corresponding loss of revenue. The insured made every effort to mitigate the business interruption, including attempting to have some [...]

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Forensic Accountant John Hutson Talks To MSNBC About Business Interruption Issues Due to the BP Oil Spill

by Mary May 11, 2010

John was recently interviewed by MSNBC reporter Allison Linn. In her article As Oil Gushes Out, Damage Claims Pour In, John comments about what it will take to quantify a business interruption loss due to the Gulf Coast oil spill. As a follow up to that article, John wants corporate officers, risk managers, and business [...]

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Estimating Business Interruption Revenues Before and After the Nashville Floods

by John May 6, 2010

Thankfully the river waters are receding and Nashville businesses will soon begin the restoration and recovery process.  As a component of a business interruption claim, many businesses will be tasked with projecting their lost revenue due to the closure of their business.  Projecting lost revenue can be a confusing task for risk managers, corporate officers, [...]

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The Mainstream Media’s Impact on Gulf Coast Business Interruptions

by John May 4, 2010
Thumbnail image for The Mainstream Media’s Impact on Gulf Coast Business Interruptions

We live in a cell phoning, e-mailing, text messaging, Facebook-ing, Twitter-ing world.  Information travels at blinding speeds and can have an almost immediate effect on a business interruption due to the BP oil spill in the Gulf.  Right now the media, and their treatment of the Gulf of Mexico oil spill, is severely damaging businesses. I [...]

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British Petroleum Changing Its Tune on Business Interruption Claims

by John May 3, 2010
Thumbnail image for British Petroleum Changing Its Tune on Business Interruption Claims

Settling business interruption claims related to the recent oil spill in the Gulf of Mexico is not going to be as simple as British Petroleum made it sound.  Many businesses have been, or will be, adversely affected by this event.  These businesses may be making claims for their economic damages through: First party insurance. Oil [...]

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