The global impact of the COVID-19 pandemic has and will continue to adversely impact communities and businesses of all sizes.
COVID-19 has placed the safety and financial security of employees and employers at risk, caused vulnerability in financial markets, and disrupted or shut down company operations across industries and geographies.
The first priority in preparing for and responding to a crisis of this nature should always be the safety and well-being of family members, friends, colleagues, employees, and other members of our communities.
Once these needs are met, business owners and risk managers will turn their focus to economic recovery, which includes the challenge of compiling and dealing with complex insurance claims related to losses sustained at their facilities, extra expenses incurred, and business interruption losses driven by the disruptive and overwhelming impact of COVID-19.
The webcast will focus on the following:
- Assessing the initial loss impact on the business, including identification of loss areas that can be quickly assessed, documented and filed with insurers.
- Documentation generally required from insurance carriers in connection with property damage, business interruption losses, and extra expenses incurred.
- Securing timely progress payments prior to full and final settlement to ease or even eliminate the enormous cash-flow problems companies may face during these trying times.
- Avoiding submitting incomplete claims due to insufficient supporting documentation.
- Interacting with adjusters, insurance carriers and their respective internal or external accountants.
- Understanding and quantifying the impact of supply chain interruptions to the company’s operations