Business interruption

 It is well known that during the large-scale losses the restoration terms of damaged property are rather significant. It leads to long breaks in commercial activity and to large financial losses as well.

The amount of business interruption loss (or BI loss), put it in other words – the financial loss, exceeds the property damage loss in many cases. In this regard the coverage of business interruption losses appears more and more often in insurance policies.

Mostly the calculation of loss depends on the branch in which the loss occurred. For example, the BI loss calculation in trade will be significantly different from the BI loss calculation at iron and steel works, smeltery.

Our experts have wide experience in BI loss adjusting in the following areas:

• power industry
• ferrous and nonferrous metals industry
• chemical industry
• engineering
• woodworking industry
• agriculture
• food industry
• trade
• hotel business

There is an important difference in calculating the property loss and the BI loss. The property loss can be calculated rather precisely: we can determine the cost of all recovery and additional expenses which were incurred and should be reimbursed.

Speaking about the calculation of BI losses, the process is rather different. In general, the calculation represents the difference between the expected and actual gross profit. As one of the value participating in the calculation is hypothetical /expected value, the accuracy of calculations will depend on the quantity of factors considered in calculation. The more essential factors are considered, the more precisely the calculation of loss will be.

It demands high qualification of a loss adjuster and detailed understanding of all business activity processes affected by loss.

Involving us, you receive the integrated approach of loss adjusting, decreasing of the property restoration time and as a result the reduction of the BI period, the admission of the correct measures for the loss mitigation. Also you gain the quality estimate of loss volume supported by all necessary documents, representation and protection of the calculation at the insurance market and recommendations for the improvement of the insurance program.

Our experts are certified in finance and accounting, on a common basis participate in professional seminars and attending the field-specific advanced training courses.