Catastrophic Events and How Imperium Can Help
By Imperium
Catastrophic events can cause extensive damage to an organization’s property and operations. Whether a loss comes from a natural disaster or man-made event, it is important to be prepared with an effective action plan and an experienced team of professionals to execute it. Imperium can help.
We recognize our clients need prompt answers and solutions when facing the uncertainty created by damage and disruption from catastrophic events. We have a dedicated staff comprised of forensic accountants, construction experts, engineers, and other industry experts who can help you develop and execute a plan to manage your repair and recovery efforts before and after the storm.
Our experts help you prepare for and respond to major loss events by taking a proactive and focused approach to identify and quantify your financial losses. Imperium assists organizations with the assessment of loss impacts, quantification of business interruption and time element costs, scope and cost calculations for property damage, forensic scheduling for time element losses, and expert claim documentation to maximize and expedite available insurance and third party recoveries. All as you get back to business
Imperium can assist with the following:
- Forensic accounting for first party insurance claim preparation.
- Forensic scheduling to quantify and support delay, rebuild, and time-driven costs.
- Cost estimating related to the physical scope of loss and repairs.
- Technology tools that add quality control, efficiency and security to the claims process.
- Economic loss measurement and claim quantification deliverables customized for each loss.
- Support throughout the process, including addressing the questions of the insurance companies accountants and engineers.
Imperium assists in developing an overall financial recovery strategy to bring your business back to pre-loss conditions using the following approach:
- Help establish and activate a loss recovery team.
- Work collaboratively with our client and its insurance broker, counsel, and other representatives.
- Collaborate with client to assist with reserve setting and advance procurement.
- Engage with client colleagues to develop a documentation gathering and retention
- Work collaboratively with client to develop loss measurement models and estimates.
- Where appropriate, use existing financial and budgeting tools.
- Prepare well documented and logical schedules and other demonstratives, as necessary, to illustrate loss amounts utilizing insurance industry best practices.
- Preparation of claim reports.
- Assist with responses to requests for information during the loss adjustment process.
- Provide client support during settlement discussions.
Our project team is well versed in preparing insurance claims under property, cyber, builders risk, subcontractor default, environmental, among other policies. We also specialize in contract claims, adding the additional expertise needed to support loss recoveries that intersect between insurance and contractual agreements. strategy.
For assistance before or after a catastrophic event, get in touch with our experienced team today.
