Business Interruption and Damages

Business interruption claims typically involve a loss of income, and/or extra expenses incurred by a business.

Business interruption claims relate to a period of time when a business cannot operate due to a disruption of the normal operations of a business. Businesses can obtain business interruption insurance to cover the financial impacts from these events. Business interruption claims can result from storms, fires, floods, hurricanes, tornadoes and maybe even COVID-19. The Schneider Downs Business Advisory group handles all business interruption and insurance claim matters and can work with policyholders, counsel, accountants and insurance brokers and adjustors in many different ways, including:

• Assisting in determination of period of loss or restoration
• Assisting in preparing or evaluating financial projections
• Preparing detailed business interruption claims and lost profit calculations
• Calculating extra expenses, including construction, overtime, costs related to temporary locations
• Identifying costs related to COVID-19 (e.g. cleaning, protective equipment, etc.)
• Preparing package of all relevant documents and analyses supporting claims
• Evaluating insured’s claim or expert report
• Assisting in presenting a claim to insurance carriers
• Evaluating alternative analyses of losses prepared by insurance carriers

If claims proceed to litigation, we can also assist with discovery, depositions and settlement proceedings, presentation of financial data and provide expert testimony. For more information on our services, download our Business Interruption Service Overview.

About Business Advisory Services

The Schneider Downs Business Advisory team empowers organizations in making informed decisions across accounting, financial, legal, and operational areas. From the ground floor to the C-suite, we provide strategic guidance to help clients succeed in today’s rapidly evolving business environment. Learn more about our Business Advisory services or contact us for more information.