How to Expedite Payment for a Business Interruption or Business Income Claim Related to the Gulf Coast Oil Spill

by John June 21, 2010

I recently read a story in the New York Times that discusses the lack of payment to business owners affected by the Gulf Coast oil spill. I think that the general public is amazed, and outraged, that payments are slow if they come at all. As someone who values large commercial insurance claims, I am [...]

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Should You Continue Paying Your Employees During a Business Interruption Loss?

by John June 14, 2010

The issue of whether or not to continue paying employees during a business interruption loss is one of the most difficult for my clients.  On the one hand, many of my clients have real empathy for their employees, and treat them like family. When their business experiences a loss, they don’t want to see their [...]

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John Hutson Published in Construction Executive Magazine this Month

by Mary June 9, 2010

John has a great article published this month in Construction Executive magazine called, Common Errors that Kill a Soft Cost Claim. If you’re a long-time subscriber to our blog, you may not realize that you can sort through all of our postings using the links in the footer area and the side bar of this [...]

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Gulf Coast Restaurants Should Watch Profit Margins for Loss of Business Income After Oil Spill

by John June 4, 2010
Thumbnail image for Gulf Coast Restaurants Should Watch Profit Margins for Loss of Business Income After Oil Spill

Everyone knows that tourists and locals on the Gulf Coast eat seafood and lots of it! After I spend a day on the beach with my wife’s family, one of my favorite places to eat is Lulu’s in Gulf Shores. I’ve many memories of relaxed family meals, the grownups sitting around peeling those shrimp and [...]

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For Resorts Affected by the Oil Spill – The Loss May Be In The Mix of People Who Are Your Guests

by John June 1, 2010

Some resorts are reporting a business interruption and lost revenue due to room cancellations as a result of the BP oil spill in the Gulf. Other resorts along the Louisiana, Mississippi, Alabama, and Florida coast lines are not yet seeing a loss of business income because their rooms are still occupied–by people who are trying [...]

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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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