Some Business Interruption Claim Tips

• Implement your business continuity management process
• Consider all possible mitigation measures linked to revenue protection
• Develop financial projections detailing the anticipated cost-benefit analysis of each option
• Seek insurer's approval to the loss mitigation measures selected
• Set time frames for insurer's response according to your business needs
• Fully communicate and document the decision making process
• Capture the data required to measure the financial impact of the loss
• Establish separate project or nominal ledger codes as part of the data capture process
• Consider historic and future trends of the business in evaluating any loss of revenue sustained as a result of the insured event
• Remember the evaluation of a business interruption loss is a subjective process - maximum value is extracted by presenting a well documented and reasoned claim
  

Please contact us  to see how a business interruption review can respond to your business needs.