Business Interruption Insurance
There are potential issues that may arise when contemplating a business interruption insurance claim. Every client situation is different, and we are here to help guide you.
One possible form of relief for the financial stress caused by the outbreak of COVID-19 is business insurance, including business interruption and contingent business interruption coverages. These types of coverages are often included as part of a commercial liability policy. Recovery may include reimbursing the business owner for lost revenues and expenses incurred, among other things. As policy terms may be unique for each policyholder, coverage should be assessed on a case by case basis with a careful review of the wording within each policy.
Determining business interruption losses are complex calculations that require specialized training and experience. Be sure to seek the help of a qualified professional that has the requisite skill set to assist with your business interruption claim.
Gettry Marcus’ team of Forensic Accountants and Business Valuators can assist you with your business interruption insurance claim and be part of the team helping your business recover from the financial impacts of COVID-19. We can help with:
- Establishing your loss period
- Analyzing historical operations
- Evaluating your claim
- Quantifying the loss
- Determining additional costs incurred while mitigating the damages
- Preparing a business valuation
- Assisting with the submission of financial information to your insurance carrier
- Collaborating with your attorney
If you would like additional information please contact your Gettry Marcus Advisor or Mark Warshavsky, the author of this article.