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Planning and Conducting a Management Interview

Relating to a Business Interruption Claim (Part I of II) It remains unclear whether business interruptions caused by the current novel Coronavirus pandemic will be covered under business interruption insurance policies because insureds and insurance companies are still arguing whether the pandemic and/or related state and/or local government shutdown orders qualify as “physical damage.” While litigation on ...

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Managing Business Interruption Claims

What Forensic Accountants Need to Avoid Doing What do forensic accountants need to know when performing a business interruption loss engagement? What are some of the common errors and pitfalls that forensic accountants need to avoid? In this article, the author will answer these questions as well as walk through the process of performing a business interruption loss engagement. When natural disasters or dam ...

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Business Interruption

A Unique Assessment of Commercial Damages Business interruption is a form of commercial damages that may include both breach of contract and torts. While it is not common for financial experts to be hired in business interruption situations, some claims require their expertise. Unlike a traditional lost profit analysis, business interruption calculations are unique. Any expert asked to make such an analysis ...

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Lost Profits: The Reasonable Certainty Standards and the Modern New Business Rule

While the vast majority of jurisdictions have moved away from the new business rule and adopted the modern new business rule, by which new/unestablished businesses can recover damages, such adoption does not diminish the requirements under the reasonable certainty standard. Given the lack of historical financial performance data and under the lens of the reasonable certainty standard, estimates of lost prof ...

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The Storm is Coming, Will Your Firm Survive a Natural Disaster?

Preparing yourself and your clients for a natural disaster By taking steps before a natural disaster strikes, the firm can position itself to thrive in the aftermath. A meeting with your casualty insurance professional is suggested. The agenda should include a review of the current coverage and discussion of changes in your firm operation since the last review. ...

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