The Role of BDO Consulting
BDO Consulting insurance claim professionals are often key members of the insured's claim team, and assist in substantiating property and business interruption losses. We work closely with our clients’ controllers and general contractors to coordinate the substantiation process and assist with the following activities:
Business Interruption
- Identifying specific lost sales
- Identifying specific lost customers
- Attributing lost business income to direct physical damage
- Trending of historical results
- Evaluating budgets and forecasts
- Analyzing relevant economic factors
- Assessing open orders/bookings
- Analyzing indemnity period results
- Evaluating comparables or yardsticks
- Analyzing competitors
- Identifying "hidden" extra expenses
- Documenting extra expense mitigation
- Documenting capacity
- Evaluating potential credits for "make-up" deferrals and additional locations
- Documenting reasonableness and necessity of continuing expenses
Property Damage
- Assisting in the determination of the indemnity period
- Recommending appropriate recording mechanisms for repair and replacement record-keeping expenditures
- Assisting in the determination of Actual Cash Value
- Obtaining appropriate documentation
- Compiling property damage claims
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