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Fulfilling a claim against a "business interruption" or "time element" insurance policy involves a nuanced assessment of the complete picture of the claim, including the pre- and post-interruption value of the business and the nature of the interruption. While the methodologies used to assess these values are in many ways no different than those used in other business appraisal or lost profits settings, their proper application and analysis requires a knowledge of how these claims are made, processed, and reviewed. In part 9 of BVR's Online Symposium on Economic Damages, expert attorney and series co-curator Jonathan Dunitz will provide listeners with the insights necessary to perform a sound assessment of damages for an insured claim.
Program Agenda
Business Income (and Extra Expense) Coverage
Lost Profits versus Business Income/Interruption Insurance
Definition of policy terms
Overview of policy structure
Additional coverages
Checklist for first 24 hours after loss
Learning Objectives
Learn why insured claims are analyzed
Learn how insurance policy structures and definitions can impact the damages analysis and what financial experts and attorneys should do to prepare for these factors
Learn how non-standard nuances in policies can impact the assessment of damages
Learn the best practices for assessing damages for insured claims
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In the 2011 edition Nancy Fannon, ASA, MCBA, CPA, ABV brings together the comprehensive body of knowledge on lost profits damages and delivers the definitive resource for financial experts and attorneys alike. Fannon and other leading experts provide thorough analysis of current case law and valuation methodology related to the calculation of damages.
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