Commercial Insurance Claims
Your business has suffered a loss, now what?
We understand the extraordinary stress business owners face when dealing with a business-related loss. We’ve saved many companies from bankruptcy as a result of an insurance loss because we know how to use two key components of any business insurance claim: business interruption and extra expense coverage.
Business interruption covers net income you would have earned had there been no loss, plus continuing expenses. Extra expense coverage, on the other hand, is about retention of customers after you’ve rebuilt.
This is where the rubber meets the road: if you haven’t been able to retain your customer base while rebuilding, then your business may not survive.
We help business owners craft a business plan to maximize not only the business interruption portion, but also extra expense so that you can retain your customer base after you re-open.
Our resident expert on business interruption and extra expense coverage is PLA’s President, Len Theran [LINK TO LEN’S BIO], who not only holds a degree in engineering from Massachusetts Institute of Technology, but also has an M.B.A. from Stanford Business School. He has helped manage several high- and low-tech companies, so he has the unique expertise and perspective when confronting the problems a small company has after a loss.
We use every resource available to help our clients get back on their feet and back in business as soon as possible, including working with attorneys to determine what benefits are available under the relevant court statutes, which can vary greatly from state-to-state.
Besides traditional phases of recovery, such as building damage, equipment and inventory, we also specialize in:
advising your claim management team
integrating the claim with the restoration efforts to ensure efficient results
formulating solutions to minimize any business interruption
tailoring systems that comprehensively capture and segregate all related expenses
Beyond achieving a fair settlement for you, we can also help:
weigh the benefits of updating versus replacing damaged property or inventory
mitigate future losses
maintain good relations with your insurance company
Featured Commercial Claims