Posts tagged as:

war story

Gratitude & Business Interruption Loss: Do These Two Things Go Together?

by John March 8, 2010

Every February 24th, without exception, my phone rings, and without fail the phone call catches me by surprise. This year, I was in the middle of sorting through a pile of debris on my desk, when the voice on the other end of the phone said, “No matter how bad things in your life may [...]

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Is It Worth It To Hire A Forensic Accountant To Prepare Your Business Interruption Insurance Claim, Regardless of Fee Coverage?

by John March 3, 2010

I am often asked by potential clients if my forensic accounting fees to prepare a business interruption insurance claim will be reimbursed by the insurance company. This question is completely valid because professionals who are experts in business interruption claims are not cheap, and risk managers, corporate officers, and business owners want to clearly understand [...]

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Professional Services Firms Need the Right Extra Expense Coverage and a Rock Solid Business Continuity Plan

by John February 19, 2010

I am often asked to assist professional services firms, such as attorneys, accountants, engineers, and doctors, with estimating their business income values at risk.  My advice to professional services firms is often the same:  assume you will collect nothing for your lost business income.  I know that this advice sounds harsh and may seem shocking. [...]

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Schools: Beware the “Loss Of Market” Exclusion When Submitting a Business Interruption Insurance Claim

by John February 17, 2010

Following Hurricane Katrina, I was retained to help a private school quantify its business interruption loss.  I valued the business interruption loss related to the period of restoration as well as the extended period of indemnity. The first hurdle was getting the adjuster to understand that a school doesn’t make widgets.  What I mean is [...]

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Developers: The General Contractor Can Cost You Millions On A Construction Delay in Completion Insurance Claim

by John February 15, 2010

When you are the developer of a commercial property, a lot is riding on your general contractor, and never more so than when you must submit a construction delay in completion insurance claim.  The general contractor is the person in charge of building the project, making sure all of the subcontractors get paid, and keeping [...]

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