Time and again you had the creative solution, the tough negotiating point, or the quick response necessary to keep our insurance claim on track with the insurance adjusters. I am convinced that without your unflagging enthusiasm for this claim we would not have settled as quickly, nor for as much as we ultimately did.
Richard Q. Russeth
You just suffered serious manufacturing damage and you are wondering what to do next.
You call your insurance company and wait for an adjuster to come out hoping that they will have your best interests at heart.
You moved from the asset side of your insurance company's ledger to the liability side of their ledger.
Knowing everything you possibly can about the "fine print" of your insurance policy before you have any substantive dialogue with your insurer is an absolute necessity. Know what you are covered for and how to claim it. What you say to your insurance company's adjuster and how you say it can make a dramatic difference in how much you get paid. The more you know, the better the results.
SettlementWe will negotiate the best possible settlement.
Peace of MindWe can help you get back to your lives, family, and business sooner.
AdministrationWe cover every part in preparing and settling your claim.
TeamA team of experts on your side.
Factors To Consider
Make sure you fully understand the meaning of each of the following before you move forward. Feel free to reach out to us for a no-cost discussion about your claim.
Frequently insurance companies use independent building and equipment consultants to prepare bids.
Who are these consultants?
Who are they working for?
Do they only work for insurance companies? Why this should be a red flag.
Replacing versus repairing production lines. Pros and cons.
Temporary production in other owned or non-owned locations? What happens at the end of your claim?
Hazardous materials such as asbestos and lead can be expensive to address. Make sure your insurance carrier does not cut corners when addressing this issue.
Warranties and Protective Safeguard Requirements.
What do they mean?
What if you are not in full compliance?
Can you still collect?
What happens when the insurance company engages a forensic accountant?
What is his/her role?
Why can’t your accountant just prepare your claim?
What is the harm in sharing your financial statements?
Are you required to produce your tax returns?
Can you recast your financial statements? If so, why?
What are extra expenses? What can be included?
How do you project lost sales? What about new products? Sales declines?
Coinsurance clauses in loss of income coverage can lead to disastrous results when including labor expenses in the cost of goods manufactured and exclude those labor expenses in the business interruption evaluation.
Is there coinsurance in your policy?
If there is, what does it mean?
If there is, did your insurance adjuster tell you? If not, why not?
How is coinsurance calculated on replacement cost? On actual cash value?
Properly managing coinsurance can prevent disaster. Not properly managing coinsurance can put you out of business!
Increased efficiency and productivity with new equipment. Does the insurance company get a “credit?”
How does the smoke and the water used to fight the fire affect your machinery? Your computers and other electronics?
Code Upgrade coverage is very important when rebuilding after a fire.
How does your coverage address codes?
If your coverage is limited, is there anything you can do about it?
Valuation of raw materials. Work in progress. Finished goods. Methodologies employed.
What are expediting expenses? How do they differ from extra expenses?
Can you continue to pay your employees?
“Ordinary” employees versus “key” employees. How do they get classified? What is covered?
What is the difference between Actual Loss Sustained and Sales Value of Production and how does it affect your claim?
What is your broker or agent’s role?
Will he/she be adjusting the claim?
How many claims has he/she handled?
Will his/her role be active or passive?
When faced with supporting your position or the insurance company’s, where will he/she stand?
Insights for Your Industry® is our E-publication created to help specific industries protect their property. For example, our first three editions cover hoteliers and the issues related to property claims that are important to their business following a disaster. Articles are written from a policyholder’s perspective and include real-life examples as a comprehensive guide to improve disaster preparedness.
Adjusting Today® is a free resource from AI covering the most current insurance topics and critical issues affecting property damage and business interruption claims. It’s written by the leading insurance experts and from the policyholder’s perspective and includes real-life examples to provide insurance agents and brokers, risk managers, attorneys, business owners and other business professionals the context and knowledge to improve disaster preparedness.