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RESEARCH AND BRIEFINGS

Post-Loss Damage Assessment and Business Recovery Management

 


With more than 230 fires burning over 400 square kilometres, British Columbia has declared a state of emergency.

Given the extent of the business interruption being faced in the region, actions taken at an early stage can be essential to a company's finances, operations, and overall success.

Marsh Risk Consulting's Financial Advisory Services (FAS) Practice can help your company- no matter the industry- work through the vast number of claim-related issues following this wildfire. Our team of forensic accounting and claims professionals can provide you with global expertise and proactive support to help manage this crisis. We offer claims leadership and other resources to help you mitigate your losses, focus your attention on your employees and community, and achieve a timely recovery and return to business.

Catastrophic Event Insurance Claims

Wildfires can have far reaching implications if your company does business in the affected region, whether physically located there or reliant on a supply of inputs, goods, or services. We can help manage your insurance claims and coordinate with your insurance broker's advocacy team, so you can focus on running your business and assisting your people. Our services include post-event loss analysis of:

  • Property damage.
  • Extra expense.
  • Business interruption.
  • Contingent business interruption.
  • Service interruption.
  • Supply chain disruption.

Along with first-party claims, the FAS team can assist you with third-party insurance recoveries. These damages may be included in a claim presented to a party that experienced business interruption as a result of the wildfires or could be a fire-related contingent business interruption (CBI) claim that you present to your insurer.

FACS supports its work with two powerful tools to assist in expediting your claim recovery:

FACSconnect is a web-portal that allows users to share information, manage documents from start to finish, and review and provide comments.

FACSdb is a robust, database tool that compiles, manages, and distributes large amounts of claim data efficiently and accurately.

Who Needs These Services?

  • Post-loss damage assessment and business recovery management is for any organization in any industry with:
  • A loss following a wildfire that is disrupting its business.
  • Limited in-house or on-the­ ground insurance claims expertise or resources.
  • A need for timely and effective recovery from this catastrophic event.

What Do You Get?

The benefits of post-loss damage assessment and business recovery management include:  

  • Prompt support following a loss event.
  • Highly-qualified accounting professionals and claims consultants with extensive experience across geographies and industries.
  • Effective management of even the most complex claims so that you can focus on your personnel and operations.
  • Using our proprietary technology, efficient, accurate tracking of various size claims and streamlined communications between all parties involved in the recovery process.
  • The combined power of FAS and Marsh insurance and claims advocacy experts to help expedite the claims settlement process