Cyber Business Interruption: Checklist for Mitigating and Quantifying Loss
Quality documentation and forensic analysis is the cornerstone to effectuate a positive result on a cyber claim. Most cyber risk policies include additional coverage for business interruption, or loss of income, and extra expenses associated with a breach, which typically can make-up some of the more significant costs. Read More >
Business Interruption Claims for a Power Outage Caused by a Hurricane: What to Know
Hurricane Beryl has left nearly 3 million homes and businesses without power. Handling a business interruption claim for a power outage caused by a hurricane can be complex, but careful preparation and documentation can help ensure a smoother process. Read More >
Common Challenges with Hurricane-Induced Business Interruption Claims
Businesses can face several challenges when filing a business interruption claim due to a power outage, especially when the outage is caused by a hurricane or other natural disaster. Here are some common problems and how to manage them. Read More >
Baltimore Key Bridge Collapse: Managing Supply Chain Business Interruption Losses
In today’s interconnected economy, businesses rely heavily on intricate, global supply chains, exposing them to various risks that can severely disrupt operations beyond their control. The collapse of the Key Bridge in Baltimore will have rippling impacts to organizations that rely on it, as risk managers face the challenge of identifying potential losses and determining where insurance coverage may exist to offset them. Read More >
Managing Cyber Risk: Three Key Focus Areas for Policyholders
As the trend from last year continues, cyber incidents rank again among the top risks businesses will face in 2024. In addition, the continuing war between Russia and Ukraine has drawn even more attention to cybersecurity. Unlike conventional warfare, cyberwar could have immediate global impacts across all industries within the already strained supply chain with heavy interdependence on electricity and communications. Read More >
Choosing the Panel in First-Party Property and Business Interruption Appraisals
Insurance industry professionals often tout the ability of claimants and insurers to resolve first-party property claims without litigation. And for the vast majority of claims, this is accurate. When insurance professionals and policyholders work collaboratively to follow the mandates of the policy, namely, to identify scopes of loss and damage, and investigate business income losses candidly, claims can be adjusted and settled. Read More >
Hurricane Risk Management: Is Your Business Ready for Atlantic Hurricane Season 2023?
Atlantic hurricane season is here, along with the necessity for business protection and hurricane risk management and planning. The increasing financial toll of natural disasters and operational disruptions over the past two decades continues to evolve, showing no signs of tempering. Read More >
Understanding Non-Damage Business Interruption Insurance
Non-damage business interruption, or non-physical damage business interruption, refers to insurance coverage that protects businesses from financial losses resulting from the interruption of their income stream, even in the absence of physical damage to property. Read More >
Three Misconceptions of Business Interruption Coverage
It is not uncommon for clients to provide initial estimates of their losses when filing a business interruption claim. They often state, "I've lost a million dollars in revenue" or "We've had canceled sales of $300,000." However, these initial estimates are frequently inaccurate because the insured party may need a proper understanding of their insurance policy coverage. Read More >
Imperium Consulting Group Strengthens Capabilities to Deliver Expertise and Value to Construction Clients
Imperium Consulting Group (“Imperium”), a leading financial consulting firm, has enhanced its ability to deliver specialized services across its engineering, construction, project management, litigation and accounting offerings by welcoming former Sutor Group team members, Gary Moorhead, Jordan Rosenfeld and Todd Vandenhaak. Read More >
Procor Solutions Is Now Imperium Consulting Group, LLC.
The team from Procor Solutions has joined Imperium Consulting Group, LLC. Procor is a national leader in risk management, disaster recovery, property and business interruption claims quantification, and data analytics. Read More >
Business Interruption 101
Business Interruption (BI) claims can be complicated and are often misunderstood. In general, the purpose of Business Interruption coverage is to put the business in the same financial position it would have been in “but for” the event of a loss. Simply put, this coverage will help to replace the cash flow that would have been generated in order to cover the operating expenses of the business and pay out the net profit if the business is profitable. Read more >
4 Steps To Managing Supply Chain Contingent Business Interruption Loss
In today’s economy, businesses supply chains are more integrated and complex than ever before. The global nature of many supply chains makes them more vulnerable to economic, political, legal, and regulatory issues. As a result, today organizations have higher exposure to myriad adverse risks outside of their operations and control. Read More >
Cyber Loss Extra Expenses - Potential Insurance Claim
Quality documentation and forensic analysis is the cornerstone to effectuate a positive result on a cyber claim. Most cyber risk policies include coverage for business interruption or loss of income and extra expenses associated with a breach, which typically can make-up some of the more significant costs. Read More >
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