Economic Recovery After Hurricane Isaac
Once safety needs have been met, business owners and risk managers should turn to economic recovery, which can include the challenge of dealing with complex property and business interruption insurance claims.
BDO Consulting has worked with a variety of businesses—from small start-ups to Fortune 500 companies—to help minimize hardships and assist in accelerating the recovery process. In the wake of Hurricane Isaac, BDO can advise on all aspects of economic recovery and help to answer some of the most important questions, including:
The claims process: What should business owners expect as they pursue insurance claims? Who should be involved? What is the typical duration of the claims process and when can a settlement be expected? What are some of the most common roadblocks? Are cash advances for recovery available?
Documentation: Which documents are generally required from insurance carriers in connection with hurricane property and business interruption losses?
Attribution of lost income: Which physical and non-physical costs are covered? For example, is loss of power usually a covered cause of loss, irrespective of physical damage to property?
In the wake of a disaster, BDO Consulting can also advise businesses on:
Re-creation of books and records under worst-case scenarios
Determination of the indemnity period for which benefits are payable
How to identify lost sales and customers
How to establish historical budget trends and analyze economic factors affecting
the business loss