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Adjusting Property Alternate Dispute Resolution Casualty Campus Catastrophe Commercial Time Element Losses General Interest Large Property Losses Management PLRB Property Coverage Special Investigations/Fraud Subrogation Technology Underwriting

Business Income Loss: Avoiding Pitfalls

Tuesday 1:30 - 3:00
Wednesday 1:30 - 3:00

George Stone, Vice President/EGA, McLarens
Katharyn Thompson, CPA, CFF, Partner, RGL Forensics

  • Effectively start the communication process, obtain the necessary information, and stay on track with Business Income losses
  • Set expectations with the insured, independent adjuster, and insurance adjuster and identify key delivery dates and milestones that will be important for keeping the adjustment on track
  • Explore strategies to meet emerging surprises and make modifications as new information is discovered
  • Identify ways to highlight and explain key concepts and differences that can help bridge the gap in understanding between parties
  • Review case studies to examine potential challenges in business income losses that often arise and consider alternative approaches to achieve a resolution
  • Extra Expense: Time Element Claims

    Monday 1:30 - 2:30
    Wednesday 10:30 - 11:30

    Andrew T. Clark, Vice President, Meaden & Moore
    Shawn D. Woodie, CIC, AIC, AIS, Claims Examiner, Erie Insurance Group

  • Review the Extra Expense concepts based on the customary insuring agreements
  • Examine the potential challenges of Extra Expenses and loss mitigation verification
  • Review examples of the application of expense to reduce, pure extra expenses, increased cost of working, and expediting expenses
  • Explore examples of extra expenses and the interplay with the business income loss
  • Manufacturing BI Claims: With or Without Extra Expense

    Monday 10:30 - 12:00
    Tuesday 3:30 - 5:00

    James Chin, JD, Shareholder, Carlton Fields
    Glenn Ricciardelli, Partner, MDD Forensic Accountants
    Joe Slane, Executive Vice President, Engle Martin & Associates

  • Describe issues encountered when adjusting Business Income losses involving manufacturing concerns, including the numerous opportunities for mitigating the loss
  • Review fundamental ISO policy elements of Business Income with and without Extra Expense, including period of restoration, due diligence & dispatch, obligation to mitigate, etc.
  • Evaluate accounting procedures in measuring Extra Expense and Expense to Reduce losses, including variable vs. fixed, continuing and non-continuing costs with manufacturing concerns
  • Review recent legal decisions from state and federal courts applicable to the terms and conditions of time element insurance policies
  • Shutdown of Business Operations from Cyber Events

    Tuesday 10:30 - 12:00
    Wednesday 3:30 - 5:00

    Dennis D. Fitzpatrick, JD, President, Clausen Miller, PC
    Gerhard F. Pagels, AVP-Comm'l Property, American International Group
    Matt Scott, Practice Leader, Envista Forensics
    D. Craig Streiff, CPA, ABV, CFF, CTIP, Forensic Accountant, HSNO The Forensics Firm

  • Describe the types of cyber losses that adjusters are most likely to encounter
  • Explain the causes of the interpretation and the resulting financial impact
  • Review the coverage issues resulting from a cyber event
  • Outline some recent cyber events and the actual impacts from real-world examples
  • Detail a step-by-step guide on how to handle this type of loss, including necessary resources
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    Please join us at the Property & Liability Resource Bureau 2019 Claims Conference!

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