Economic damages, lost profits, business interruption- intuitively, these sound quite similar, and they are; these terms are commonly used interchangeably when referring to a business’s loss in income following an event. Additionally, the calculations and methodology used for determining the financial impact from each of these terms is the same. The difference? Business Interruption is [...]
In a prior blog post, we discussed the Dictiomatic case, which illustrated a number of principles and occurrences that often arise when calculating business interruption loss claims. Today, we will narrow in on one of the more common hurdles faced when performing loss calculations: what to do when multiple factors, not solely the covered loss [...]
Restaurants are greatly impacted by the COVID-19 crisis. Most are impacted negatively at least in the early times of Coronavirus while some restaurants unexpectedly outperform during these times. The differences are driven by factors including but not limited to types of restaurants, local competition, neighborhoods, and local restriction orders. Business interruption and lost profits calculation [...]
In a previous blog post, we touched on the standards of proof for business interruption loss claims before the courts. Continuing along this same line of thought, there is one business interruption case in particular, Dictiomatic, Inc. v. US Fid. & Guar. Co., which brought together a number of applicable concepts to provide a pretty [...]
A business interruption loss claim is a covered event under a commercial insurance policy that includes business interruption coverage. Under such a policy, should the business experience a qualified damaging event, the insurer will pay for the actual loss of business income sustained from the necessary suspension of operations due to the event per the [...]
A&C was retained by the insurance company to assist in evaluating economic damages sustained by manufacturing plants of a truss manufacturer due to a tornado. Production was halted and the manufacturer had to outsource job orders to have them fulfilled on time and minimize the loss and the period of restoration. The measurement of business [...]
Business interruption or other lost profits situations can happen to franchised businesses. These losses can actually be easier to calculate than those of single location businesses due to more information available from other franchised locations to perform damage calculations. The use of this type of information is often referred to as the Yardstick approach or [...]
As we touched on in a previous blog post, “What is Business Interruption? And What is Business Interruption Insurance?,” in order for business interruption insurance to kick-in, a loss claim must tick three boxes: there must be an actual loss of income a necessary suspension of operations to some degree must have occurred the cause [...]
What is Business Interruption? And what is Business Interruption insurance? Perhaps you’ve heard the term “Business Interruption” and can get a general idea of the concept from context clues. But what are the parameters for an event to qualify as a “Business Interruption?” And how can a business actually obtain insurance for such occasions? These [...]
To family law attorneys: we shoulder the financial and property division aspect of divorce so you can focus your efforts on the legal aspect. To clients: we address the asset and financial side of your divorce and offer a number of tailored services to provide you with peace of mind and answered questions. Navigating the [...]
