What I can help you with:

Business Interruption

When physical damage due a fire, flood, hurricane or any other insured peril results in a diminishment of business income, an analysis is performed of operational and financial records to measure the actual loss sustained through the period of restoration. The analysis may include:

  • Interviewing key management, staff, suppliers and customers.
  • Providing initial loss reserves.
  • Comparing projected operational activity to actual during the period of restoration and the extended business income period.
  • Indentifying, segregating and accumulating extra expense (mitigating and expediting) incurred.
  • Calculating coinsurance and monthly limit of indemnity compliance.

Stock / Inventory

When stock is damaged or destroyed due a fire, flood, hurricane or any other insured peril an analysis is performed of operational and financial records to measure the loss. The analysis may include:

  • Conducting an inventory roll forward to estimate the stock that should have been on-hand had the loss event not occurred (book inventory).
  • Direct a joint post-loss physical inventory count to determine the quantity of stock items on hand.
  • Review of accounting records to verify unit values of the post-loss stock counted.
  • Review of detailed source records, including but not limited to: sales invoices, purchase invoices, general ledgers, transactions journals, perpetual inventories, and canceled checks to verify unit cost and sales values of the post-loss stock counted.

Valuable Papers

When paper or electronic files that stored critical data such as: financial data, medical records, or architectural blue prints are damaged or destroyed due a fire, flood, hurricane or any other insured peril, an analysis is performed of operational and financial records to measure the loss. The analysis may include:

  • Documenting and cataloging documents claimed damaged or destroyed.
  • Researching replacement costs.

Fraud and Financial Condition

A material fraudulent act(s), such as misappropriation of assets, committed by an officer, manager, or an employee of a company may result in financial distress or possibly the inability of the company to continue as a going concern. Procedures to determine how the fraud occurred and to quantify the damages may iuclude:

  • Analytical review procedures including but not limited to horizontal and vertical analyses.
  • Review of relevant source documents, adjusting journals, financial and statements.
  • Review of board meeting minutes and other internal memos.
  • Review of internal control procedures.

Lost Profits

When catastrophic events like the Deep Water Horizon oil platform explosion occurred, many industries such as hotels, fisheries and restaurants, were negatively affected and suffered lost profits. Much the same as business interruption claims in the insurance arena, procedures to quantify the lost profit damages are performed and may include:

  • Interviewing key management, staff, suppliers and customers.
  • Comparing projected operational activity to actual during the measurement period.
  • Indentifying, segregating and accumulating additional expenses incurred to mitigate the lost profit.