Business Income Claims Expert Witnesses

Business income claims expert witnesses may write reports and testify on risk management, business interruption claims, and related issues. In Business Income Claims: Simplified!, How to Document and Calculate Loss, Robert M. Swift, CPCU, CIPA, CBCP, writes:

Business Income claims are the most frustrating part of insurance and cause the majority of E&O lawsuits. Business owners do not understand the coverage, so post loss they receive an education about their insurance policy language resulting in hard feelings and lawsuits. Insurance companies unnecessarily spend approximately $2,500 per claim in loss adjustment expenses hiring forensic accountants to show the insured how to calculate and document their claim. Agents and brokers devote many hours of non-billable time hand-holding, talking to the adjuster, and explaining the policy to the insured. Undoubtedly, this unnecessary time and expense could be better utilized properly preparing and adequately protecting the insured which would eliminate nasty surprises.

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