Post-disaster economic recovery often entails the filing of complex property damage and business interruption insurance claims.
When catastrophic events such as natural disasters occur, employee safety and well-being should be the first priority. Once these needs are met, business owners and risk managers will likely begin to consider the road to economic recovery by seeking compensation from their insurance carriers for damages and interruptions to their operations.
Disasters of this magnitude can cause significant losses―from damage to property, damage to customers and suppliers, and supply chain disruptions. Post-disaster economic recovery often entails the filing of complex property and business interruption insurance claims. Companies may not be equipped with the resources or the experience to deal with the many challenges that this can bring.
KPMG is well-positioned to provide assistance to companies with operations in the storm-impacted areas. We have extensive experience advising clients on complex insurance claims for business interruptions arising from natural disasters. We can assist with the review and evaluation of complex insurance claims, including property damage, business interruption, extra expenses, and inventory losses. We can also assist companies with insurance claim related matters and understand the process involved in preparing, documenting, and evaluating claims. We know how to achieve results in an ethical, efficient and professional manner.
Thomas Heck who works in KPMG’s Forensic practice explains what clients need to do post-disaster and how KPMG can assist.
Explore how we have helped state, local and federal governments in the wake of a natural disaster.
KPMG’s Insurance Claims Recovery team assisted in providing forensic accounting services to a health care organization to support an insurance claim for damages and losses caused by Hurricane Irene. The assistance included aggregating costs related to damages, determining the business interruption loss suffered, and assisting the client to present the claim to the insurance company.
KPMG provided forensic accounting services to multiple retail stores to support an insurance claim filed for damages and losses caused by Superstorm Sandy. The work included aggregating costs from flood damages, determining the total business interruption loss, and assisting the client to present the claim to the insurance company.
If your company has experienced a natural disaster, contact us for help.