The Greenspan Co./Adjusters International Responds to the Rise in Bankruptcies
Industry leader provides policyholders with a path to recovery following property loss
July 27, 2020 03:07 PM Eastern Daylight Time
In the current economic climate — looking at the current rate of bankruptcies and the likelihood that they will continue — The Greenspan Co./Adjusters International is available to assist with insurance claims that arise while a property is in bankruptcy or receivership. Acting as an insured’s private adjuster following a fire, vandalism, theft or other insured loss, The Greenspan Co./Adjusters International is the industry leader in post-disaster advocacy.
More than 3,600 companies have filed for bankruptcy in the United States in the first half of 2020. “We are seeing an acceleration in bankruptcies that is unprecedented… I’m pretty confident we will see more bankruptcies than in any businessperson’s lifetime,” said James Hammond, CEO of New Generation Research, which runs BankruptcyData.
In light of the economic decline resulting from the Coronavirus Pandemic, The Greenspan Co./Adjusters International underscores its resources for companies that experience insured losses while in bankruptcy or receivership. You can access these materials as well as many other helpful resources here: https://www.greenspanai.com/trusted-advisors/public-adjusters-understand-bankruptcy/
Now is not the time for trustees to take on a large loss insurance claim on their own, considering bankruptcy is its own complicated process. The trustee routinely balances their obligations to maximize the available monetary recoveries in the bankruptcy by retaining skilled professionals to support the trustee in its obligations and responsibilities. Licensed public adjusters support a trustee and the trustee’s “duty to cooperate” when the trustee is pursuing an open insurance claim for the benefit of the estate.
Similarly, public adjusters are often appointed to assist receivers as professional property loss consultants when the receivership estate has an open or required property or business insurance claim. Our expertise empowers receivers to fulfill their duty to recover all available funds for the benefit of the creditors and stockholders of the corporation.
As part of the process of settling property insurance claims, public adjusters collaborate with court-appointed receivers, bankruptcy attorneys, bankruptcy trustees, replacement executives and associated court processes, working in concert with legal counsel and other key stakeholders to successfully sort out the details and obtain a full recovery of the value of the assets involved.
“Anyone facing the arduous and time-consuming task of submitting an insurance claim during these troubling times needs our services more than ever before,” says Gordon Scott III, President and CEO of The Greenspan Co./Adjusters International. “Minimizing unnecessary risk for our clients is our priority. We take great pride in how we change peoples’ lives – especially in these difficult times.”
With 75 years of experience, The Greenspan Co./Adjusters International has the expertise, the reputation, and the excellent track record to make sure claims are processed and documented professionally, comprehensively, and accurately. The Greenspan Co./Adjusters International is available to provide the highest level of assistance to work through the lengthy and complicated process of preparing, presenting, and negotiating property insurance claims.
For more information about Bankruptcy and Receivership and how a public adjuster can assist, feel free to call our office at 800-248-3888, email us at firstname.lastname@example.org, or visit www.greenspanai.com.
Contact: Steve Severaid, Senior Vice President & Treasurer
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