Business Insurance Claims in the Wake of COVID-19

Insurance | Forensic & Litigation Consulting

April 14, 2020

The COVID-19 pandemic is a human tragedy that is taking a massive toll on our lives, our healthcare system, jobs, and business. While safety and healthcare threats must come first, economic concerns follow shortly thereafter, as we all seek to minimize the impact on our businesses and our economy.

As businesses deal with ongoing operations and plan for recovery, they face many unknowns regarding revenue, operations, contract obligations, and access to capital and credit. Many will need to assess their business interruption and other types of insurance coverage to determine how best to respond to the challenges.

FTI Consulting’s Business Insurance Claims and Forensic Accounting practice has long provided comprehensive claim preparation services after catastrophes. Our insurance claims experts are well respected by both policyholders and insurance companies for our detailed, logical and well-documented approaches to preparing and evaluating claims. We assist clients with large, complex claims around the globe.

Insurance Claims Preparation Services

Businesses who have had to curtail or cease operations as an initial response to the pandemic can turn to FTI Consulting to provide the guidance and accounting analysis needed to prepare claims. Our experts can analyze detailed financial and accounting records and develop financial models to assess business interruption and possible property claims, allowing management to focus on serving customers and rebuilding the business.

Our experts prepare insurance claims that are professional and well documented. We’ll present the claim that adheres to the policy language and presents a reasonable calculation of the loss that will lead to a fair and timely settlement. Even though they share a cause, every claim is different, due to the nature of the business, the losses, and the coverage language. Our experience has taught us how best to document and present the loss under the most complex business interruption scenarios.

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