Helping Your Commercial Clients Through A Property Claim
By Scott E. Bushnell, CPA
Maintaining client relationships is critical for insurance brokers and agencies, especially given the fact that developing new commercial clients involves a significant time investment to understand the client’s business and risks and to implement solutions for risk transfer. Once insurance coverage is in place and policies are issued, the focus of the agency switches to servicing the account. The agency is happy. The client is happy. But what happens when your client experiences a significant property loss? ...Read More
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A Common Experience from Hurricane Harvey -
Current Issues Facing Businesses Damaged by Catastrophic Loss
By Scott E. Bushnell, CPA
In the aftermath of Hurricane Harvey, the Texas Gulf Coast suffered an estimated $1.25 billion of damage. Much of the damage to businesses was subject to insurance coverage under hurricane coverage, which most Gulf Coast businesses purchase as part of their commercial insurance policies. Hurricane cover usually is adequate for most of the damage sustained in storms such as Hurricane Harvey. However, even though this cover is in place, it may not guarantee that the claim will be adequately adjusted and cover all the losses incurred by the policyholder.
In this article we will be discussing several situations with adjustment of claims and some of the lessons learned from Hurricane Harvey. These situations range from inadequate coverage to mistakes in the adjustment of claims. In order to illustrate these issues, I will use a client that has suffered damage from Hurricane Harvey as a case study.
Scott E. Bushnell, CPA - lunch meeting.
Business Interruption ConsultingTM is pleased to announce that Mr. Scott E. Bushnell, CPA has been admitted membership in the American Association of Insurance Management Consultants (AAIMCo).
AAIMCo is a non-profit trade association comprised of insurance and risk professionals who provide fee-based consulting and educational services to their clients.
The Professional Members of AAIMCo are among the most knowledgeable and highly sought after, fee-based consultants, experts and educators in the insurance and risk management fields. Their clients include insurance agencies and associations, multi-national insurance companies, corporations and attorneys for services ranging from consulting and expert witness to education and training.
AAIMCo’s purpose is to provide an insurance and risk forum for professionals of the highest caliber to share ideas and exchange information for the betterment of our professions. AAIMCo also strives to set the highest professional standards for our members and our industries.