• Betances #34 Caguas, PR 00726
  • info@claimsprotectionadvisors.com

BUSINESS INCOME CLAIMS

BUSINESS INTERRUPTION-BUSINESS INCOME (BI) LOSSES
We have prepared numerous complex property and business interruption claims involving earthquakes, hurricanes (Irma and Maria in Puerto Rico) and fires.

Our firm is a full-service consulting practice dedicated to helping our clients manage business interruption damages. We provide the expert analysis required to fairly document, analyze, and quantify damaged sustained to the business.

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YEARS EXPERIENCE

BI coverage provides funds to replace the Net Income and Continuing normal operating expenses including payroll during the business interruption. Extra Expense (EE) coverage is intended to pay for the extra expense during the “period of restoration” to minimize the suspension of operations.

Our team includes insurance industry experts such as Big 4 accountants, CPA, engineers, adjuster, lawyers.

Ms. De La Rosa had been appointed as Neutral Umpire in disputes of Business Income claims as an unbiased third party if the insurer and insured cannot be agreed on the amount of a claim payment.

Understand the different Business Income policies components such as Agreed Value, Off-Premises Utilities, Expended period of Indemnity, Business Income Worksheets, Rental Value, Coinsurance, Spoilage coverage, Monthly Limit of Indemnity, among others.

We provide comprehensive claim preparation services, including the following:
  • Working with the company management, the insurance broker and legal counsel to identify all covered loss areas and relevant limits and deductibles.
  • Preparing preliminary loss calculations to facilitate cash advances and to ensure that the insurance carriers set an appropriate reserve.
  • Calculating, proving, and the business interruption losses by analyzing historical results, operating forecasts, and detailed financial and accounting records.
  • Determined the classification of recurrent (continue) and non-recurrent (non-continue) expenses of the claim.
  • Evaluate the period of restoration for the claim and estimate the days of business interruption.
  • Measuring extra expenses such as operating from a temporary location or utilizing alternative supply chain resources.
  • Preparing property claims, including working with contractors and engineers to prepare replacement cost estimates, and documenting all costs incurred to repair or replace damaged property.
  • Preparing a report for the claim including concise loss calculations and detailed, well-organized supporting information. Determine a payment recommendation for the insurance agency. Also, evaluate reconsiderations made by the claimant.
  • Collaborate closely with insurance adjuster and insurer’s accountants
In addition, a financial expert can help assemble and review the requisite documentation to support a claim, such as financial statements, tax returns, receipts, utility bills and vendor information. We can negotiate with insurance agencies to resolve the claim as quickly and painlessly as possible.