BROWN & BROWN SERVICES NAMES JERILYN KELLY AS NEW SVP
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Policyholder COVID Claim Valuations with Peter Halprin and Christopher Montifoglio
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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.
After the Storm: Disaster Plans and Backups a Must for Public Entities
Even the best laid plans can go awry in a disaster.
For example, when Winter Storm Uri plunged into Texas in mid-February with unprecedented extreme low temperatures, and snow and ice that lingered for far too long, even organizations that had disaster and recovery plans in place found themselves looking for “Plan B” options when those blueprints didn’t work out, says Arnie Mascali, president of Procor Solutions + Consulting, which specializes in helping clients with a focus on public entities with disaster planning and recovery.
Mascali cited as an example a public entity that in advance of the February storm “was prepared. It had disaster planning in place. It had a restoration contractor signed up. Unfortunately, that restoration contractor was overwhelmed with the amount of work that was to be done. … I’m aware of public entities that were basically looking up restoration companies by the do