Physical disasters involving hurricanes, fires, floods, or theft are extremely difficult events for a business. These types of intentional or natural disasters can be a defining moment in a company's survival.
Companies in these situations are overwhelmed by restoring business operations as quickly as possible and dealing with the aftermath of the events to avoid significant negative impacts on cash flow, revenue, and profitability.
For companies that purchased business interruption insurance, there is often frustration with the insurance company's speed and methodology in reviewing a filed claim. A company may be faced with having no experience or time in this disrupted period to prepare or file a claim.
Marcum's business interruption services provide a Company or its counsel with support from filing the initial claim to receiving a settlement with the insurance company. We work closely with Counsel and the Company's executive and financial teams to organize and complete documentation necessary to file a complete and timely claim.
We also work collaboratively with the insurance accountants to ensure they have all the information they need to perform their calculations. Moreover, we are experienced in understanding the types of documentation that will be necessary to produce a report with a company's insurance claim. Marcum is experienced in defending our computed insurance claims in settlement discussions and arbitration hearings with insurance adjusters, its forensic accountants, and counsel. A team of seasoned and experienced professionals in business interruption claims will be engaged to develop the estimated losses and a claim package that facilitates resolution with the insurance company.
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