Business Interruption Loss
Gnarus experts have provided experience working with counsel and their clients to evaluate the business interruption loss, calculate the potential damages, assist with presenting the claim to insurance carriers, and defend the claim through conclusion. We work collaboratively with the parties involved to ensure that the claim process is handled effectively and efficiently.
- We take a holistic approach to presenting a claim that fairly, accurately, and comprehensively demonstrates the losses our clients face.
- We are industry leaders in insurance recovery efforts of all kinds, so we know what it takes to properly prepare and present the claim, as well as to engage in ongoing support after submission.
- We work within a cost-effective structure that results in lower fees than our competitors, and we often work under alternative fee arrangements. In addition, our fees as loss consultants may be covered by the insurance policy under a separate sub-limit.
A METHODICAL PROCESS FOR EVALUATING, PREPARING, PRESENTING AND DEFENDING CLAIMS
As a first step we help clients with what can be done right now to protect the eventual claim, such as setting up processes for gathering and organizing documentation and capturing costs.
EVALUATE THE CLAIM
- Learn about the client’s sources of income and expenses
- Provide client with checklist of documentation necessary for claim valuation
- Assist with gathering documentation and ensuring it is comprehensive
- Determine proper methodology for calculation of claim
PREPARE THE CLAIM
- Review documentation of income and expenses
- Prepare schedules of financial information
- Apply appropriate calculation methodology and determine claim value
- Organize and prepare supporting exhibits and documentation
PRESENT THE CLAIM
- Write statement outlining the claim background and value
- Submit well-organized materials supporting the claim value calculations
- Work with counsel to ensure accuracy and comprehensiveness
- Help to secure advances from insurance carrier
DEFEND THE CLAIM
- Work with counsel to reply to insurer questions and arguments
- Offer alternate approaches or updated analyses during negotiations
- Help resolve components to make progress toward full resolution
- Provide expert testimony if needed