Search
 

Determining business interruption losses after Hurricane Harvey

Filing an accurate claim requires an in-depth look at all aspects of a company.

By Robbye Mohn, CPA, CFE | Updated on August 30, 2017

The devastation in Texas brought on by destructive winds and flooding rains from Hurricane Harvey brings the reality of hurricane season into focus for many. Harvey has delivered a devastating wake-up call to the U.S., and as residents begin their long recovery process, determining the true value of their losses will be a priority.

For many adjusters in the industry, there hasn’t been a major storm since the beginning of their careers, and many have never experienced a catastrophe on this scale. That makes Harvey a first for many adjusters. The business interruption (BI) impact of a hurricane (or any other natural disaster, for that matter) can have some unique elements and often affects insureds who do not have experience in filing insurance claims. Addressing these types of losses can be challenging for both the first-time claimants and the adjusters assigned to manage the process. Having a thorough understanding of the BI loss analysis process and knowing which financial experts are available will help equip those responding to losses from Harvey.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.