Calling for Reinforcements on Business Interruption Claims

March 22, 2020 by  
Filed under Uncategorized

Employing  Experts Adjusting and in an Insurance Appraisal.

Public Adjusters and Business Interruption Claims

Does your Insurance Policy Cover Coronavirus Closing


As a Public Adjuster hired by the policyholder to assist in preparing and substantiating an insurance claim, all Public Adjusters have had the following experience. The Insurance Company is sending in XYZ experts to evaluate the damaged property. Quite a few of you reading this just had several names pop into your head.

With all the talk of potential Caronavirus and Business Interruption insurance claims, it’s time to take stock of our skills as well as our limitations. How many of us have the experience to adjust or be the Named Appraiser on a business interruption claim?

Gather Your Experts Now for Business Interruption Claims

Most of us are highly competent with building damage, loss of use, and personal property. The documentation requirements are going to be a handful. The interpretation of those documents will require you to call in the cavalry. Line up your experts now. The insurance companies will be deploying an army of Forensic accountants, Certified Public Accountants, Tax Attorneys, and maybe a few former IRS agents. Public Adjusters and Appraisers better have them, too, along with your Industrial Hygienists and decontamination experts.

All of us in the world of policyholder advocacy should not be handling claims we are not qualified to handle. Have your bullpen stocked, have your battleships on standby. Insurance companies will be digging deep and asking questions that most Public Adjusters and Appraisers should

Can you file a claim for business interruption?

Do you have the resources available to guide your clients through a Business Interruption Claim?

not or could not answer.

Bring yourself up to date on all commercial insurance forms, exclusion, endorsements. Keep up to date on any changes in the law.

Business Interruption Claims and Insurance Appraisal

On the Appraisal front, you can assume that a Business Interruption claim that has come to you for Appraisal will have both sets of documentation that has caused the disagreement in the amount of loss, which has moved the claim into the insurance appraisal process.

In a contentious appraisal, it may be best to have the umpire bring in neutral experts to dissect the conflicting findings. As an Appraiser, you may be an expert in the Appraisal Process, and an expert in accounting, taxes, or business administration may need to help you put together your appraisal finding.

As the named Appraiser substantiating the amount of loss for a business interruption claim, you will be called upon to present the financial damage the Insured has sustained concisely and accurately. Many livelihoods could be riding on our skills and decision in the coming year, on both sides of the policy.


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