Business Insurance Claims COVID-19 Services
BRG’s Business Insurance Claims (BIC) team assists policyholders and works with their insurance brokers and insurance coverage counsel to prepare insurance claims resulting from the novel coronavirus (COVID-19).
BRG’s Business Insurance Claims (BIC) team assists policyholders and works with their insurance brokers and insurance coverage counsel to prepare insurance claims resulting from the novel coronavirus (COVID-19). Our professionals provide comprehensive forensic accounting and insurance claim preparation services and have assisted clients with hundreds of property and business interruption claims totaling billions of dollars. They prepare credible, professional, and well-documented insurance claims, per the terms of the insurance policies, that help lead to timely settlements.
Virus/Disease Claims Experience
BRG professionals are currently preparing claims for companies that have suffered financial losses related to the coronavirus (COVID-19), including losses due to event cancellations, business closures, local and state government orders (civil authority), supply chain disruptions, and mitigation of property damage, and protection of employees’ health and safety. BRG professionals also have experience preparing virus/disease claims associated with the Zika virus, H1N1/swine flu, SARS, and Legionnaires’ disease.
Our deep claims and industry experience enables us to provide strategic advice and manage expectations throughout the claims process, and our fees are typically covered by the insurance policy. While our professionals establish loss-accounting procedures, analyze detailed financial and accounting records, and develop financial models to prepare the claims, our clients’ management can focus on caring for employees, serving customers, and maintaining and rebuilding the businesses. In cases that are not settled, our claim professionals have served as consulting and testifying experts in litigation.
We understand and have analyzed the financial impacts that typically arise as a result of viruses/diseases and related losses.
- Event cancellation
- Loss of income
- Reduced margins
- Continuing expenses
- Recovery under Ordinary Payroll coverage
- Supply chain disruptions
- Customer disruptions
- Mitigation expenses
- Closure-related costs
- Prohibited or hindered access to property
- Directors and officers (D&O) claims
- Third-party claims or lawsuits
BRG professionals have prepared claims around world. Our team has prepared property damage and business interruption for losses involving virtually every major industry, including manufacturing, high technology, hospitality and gaming, retail and restaurants, chemicals, energy, oil and gas, transportation, hospitals, and higher education. In addition, we have extensive experience preparing insurance and FEMA claims for nonprofit entities.
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BRG combines intellectual rigor with practical, real-world experience. We have an in-depth understanding of industries and markets, with expertise spanning the major sectors of the global economy. Following are some of the many sectors that we know inside and out.