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Frank Russo

Managing Director

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Frank Russo is Managing Director of Imperium located in New York City.

 

Frank has over 22 years of experience in complex claim preparation, quantification and presentation services. With a proven track record exceeding $10 billion in cumulative loss recoveries, Frank is recognized as a leader in this niche for his proficiency in aiding clients across various industries with claim and loss issues, including property, construction, business interruption, FEMA, contract disputes, natural disasters, pandemics, white-collar crimes, product recalls and cyberattacks.

 

Frank has made impacts for his clients in the largest disasters in history including the attacks on 9/11/01, Hurricane Katrina, major construction disasters and Covid-19. Frank is also frequently engaged as an Arbitrator, Appraiser and Expert Witness in complex claim disputes, showcasing his industry acumen, impartiality and credibility.

 

Frank founded Procor Solutions + Consulting in 2013, a leading claim preparation firm, selected as a Top 10 Risk Management Service company by Insurance CIO Outlook and acquired by Imperium in 2022.

 

Frank shares his greatest takeaway in this industry: “No matter the size or scope, each loss presents a challenge (and opportunity) to rise to the moment and work to put the business or project and its people back on track. Best outcomes always include focusing on securing claim agreements and cash-flow as fast as possible, helping position the client to receive all entitled indemnities and helping the client learn from each event, leaving it with a more steadfast commitment to business resilience.”

 

Outside of work, Frank is most passionate about spending time with his family and enjoys being a coach and spectator for his three daughters within their busy schedule of activities.

Frank has extensive industry experience and leads teams to support clients in a variety of industries, some of which are highlighted below. The values of those claims range from $500,000 to over $2 billion on an induvial project basis. Frank tailors his supporting colleague to each project as required with a goal of making the most efficient and effective team.

  • Agribusiness
  • Automotive
  • Construction
  • Cyber
  • Energy
  • Entertainment
  • Higher Education
  • Hospitality
  • Healthcare
  • Luxury Residences
  • Manufacturing
  • Professional Services
  • Public Entities
  • REITs
  • Religious Institutions
  • Retail
  • Transportation

Specific project case studies are available upon request.

  • CRIS: Construction Risk and Insurance Specialist - International Risk Management Institute (IRMI)
  • ARM: Association in Risk Management, The Institutes Knowledge Group
  • IS-1015: Insurance Considerations, Compliance and Requirements – FEMA Certificate
  • IS-1000: Public Assistance Program & Eligibility – FEMA Certificate
  • CyRM: Cyber Insurance Risk Manager, Associated Risk Managers
  • Member of New York Building Congress (NYBC), President’s Club, Healthcare & Life Sciences Committee
  • Associate Member of the Construction Financial Management Association (CFMA), New York Chapter
  • 2X “Champions Club,” Parent, 2023, 2024
  • 4X “Top Gun of the Year,” “Lifetime Top Gun,” Parent, 2022, 2021, 2019, 2018
  • “Innovator in Finance,” FiNext Tech, 2018 
  • “Rookie of the Year,” Parent, 2015
  • “Excellence Roundtable,” “Catalyst,” and “Accelerate” Advanced Leadership Program, Harvard Business School & Aon 2006, 2007, 2008
  • Lifetime Member – Beta Gamma Sigma - Honor Society for Business Excellence

Russo has served as an Arbitrator, Appraisal and Expert Witness on many large-dollar disputed insurance claims. Russo’s specialty is understanding, valuing and applying claim costs in a disputed claim scenario. Some general topics in cases Russo has been involved in include builder’s risk hard cost and soft cost differences in valuation and applicability, construction delay claims, cause and effect including isolating costs over multiple delay periods, assortment and assignment of construction claim costs to multiple sublimit coverages within a policy and across multiple policies, property loss disputes on replacement cost valuation vs. actual cost valuations, assorting loss expenses as extra expense, expediting expenses or other similar policy terms within a project, restoration costs disputes and business interruption quantification differences. Russo’s interaction and expertise with insurance policies is only to the nature of costs and how they may be directed and assorted to various coverage categories. Russo does not opine on insurance coverage applicability within the realm of his expertise.

More specific case examples are available upon request.

  • Featured Panelist: “Accelerating an Insurance Claim Recovery Following a Natural Disaster” Perrin Conferences, June 2023.
  • Featured Panelist: “Catastrophic Events & Insurance Claim Recovery” Associated General Contractors of America (AGC) Surety Bonding and Construction Risk Management Conference, January 2023.
  • Journal Article Coauthor: “Achieving business resiliency to natural disasters through the lens of risk management and insurance” Journal of Business Continuity and Emergency Planning, Volume 15, No. 2 - Henry Stewart Publications, August 2021. 
  • Featured Presenter: “Builder’s Risk, Managing Interests and Anticipating Pitfalls in the Claims Process” Annual Risk & Insurance Management Society (RIMS) Conference, Thought Leader Theater, April 2021.
  • Featured Presenter: “Managing the Financial and Business Risks of Reopening Job-sites and Shut-downs", Construction Financial Management Association, April 2020. 
  • Featured Panelist: “Natural Disaster Impacts on Construction Projects” Association of General Contractors of America (AGC) –” (Part I & II), January 2020. Featured Panelist: “The Role of Lawyers, Accountants and Other Professionals in Helping Companies Recover from Natural Disasters”, Natural Disaster Conference, Perrin Conferences, April 2019.
  • Journal Article Author: “Connecting the disaster dots: The benefits of enhanced collaboration between business continuity and risk management”, Journal of Business Continuity and Emergency Planning, Volume 12, No. 3 - Henry Stewart Publications, March 2019.
  • Featured Presenter: “When Disaster Strikes, Will You Be Ready?” Annual Risk & Insurance Management Society (RIMS) Conference, Thought Leader Theater, April 2018.

More thought leadership is available upon request.