Ransomware was the word of the year in 2021 for the cyber insurance industry as attacks continued to grow in scale and complexity, and experts say this
5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS
Chris Mortifoglio, a forensic accountant, knows all too well how muddy it can become.
“I will tell you that in my experience business interruption is often the most misunderstood part of property coverage. Part of that has to do with the fact that it can be very subjective. If you have 10 accounts looking at the same set of financial data, you’ll oftentimes receive 10 different calculations or estimates of what a business interruption loss might be,” said Mortifoglio, who has been dealing with business interruption exposure assessments and claims for more than a decade as the director of forensic accounting at Procor Solutions and Consulting in New York.