Prepare now for future business interruption claims due to COVID-19

BVWireIssue #219-3
December 16, 2020

economic damages & lost profits
damages, lost profits, COVID-19, business interruption

Now is the time to educate yourself on how to calculate damages from business interruption due to COVID-19, advised Kerrie Merrifield (Axiom Forensics) at the recent NACVA and the CTI’s 2020 Financial Valuation Virtual Conference. While she points out that insurers have been categorically denying claims and discouraging their clients from filing, the loss event has not ended yet, so there will be a flood of claims when this is all over. That means a “great demand” for financial experts in this niche, she says. In the meantime, Merrifield advises experts to read policies very carefully, work with a public adjuster or attorney, and document all the work done in the matter, including following up phone calls with confirming emails.
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