Business Interruption & Material Damage Claim Preparation
Few firms can match the level of expertise in claim preparation offered by KERR & HOLLAND. Our key personnel comprise seasoned professionals who hold dual insurance and accounting qualifications. As such, KERR & HOLLAND not only has the requisite skills to prepare Business Interruption claims on behalf of claimants but from time to time has undertaken independent reviews of complex or contentious Business Interruption claims at the request of Loss Adjusters and Insurers.
Since 1994, KERR & HOLLAND has been entrusted with the preparation of Business Interruption and Material Damage claims across Australia and internationally, ranging from thousands of dollars to in excess of $90M. Even though KERR & HOLLAND'S personnel are based in Sydney, small and large claims across Australia as well as overseas have been efficiently prepared, managed and settled.
Experience has shown that the best result for a claimant is achieved by appointing our firm as soon as possible after the loss or damage occurs.
Early appointment of our firm ensures that considerable value is added to the claim preparation process, as follows:
Preparation of Material Damage and Business Interruption claims can be particularly time consuming. For a business with larger and/or complicated losses, claims can often take in excess of 12 months to prepare and finalise. Appointment of our firm to assist with claim preparation enables the business owners and management to devote more time to recovery of the business rather than dealing with claim related issues.
Our fee structure is extremely competitive and is substantially less than fees charged by major accounting firms.
As an added bonus, many of our clients find that the cost of our time to prepare the Material Damage and Business Interruption claims is covered by their insurance Policy.
Business values are at risk should a significant business interruption-causing event occur. The business could be interrupted for example, by Damage from an Insured Peril such as fire, storm, cyclone, flood, earthquake, burglary or malicious damage. Insured Damage may arise at the business premises, to premises in the vicinity of the business or at suppliers' or customers' premises. A significant interruption-causing event may also occur following an interruption to the supply of public utilities such as gas, electricity or water.
A large proportion of Business Interruption claims that we have been involved with have had an element of underinsurance. This means that in the event of Insured loss or damage occurring causing an interruption to the business, the Business Interruption insurance cover in place did not adequately indemnify the Business for the financial losses suffered. The consequences for a business could be dire and, in certain circumstances, may result in the permanent cessation of the business.
KERR & HOLLAND'S extensive claims experience coupled with a thorough knowledge and understanding of Business Interruption principles and Policy wordings can assist insurance brokers and their clients in ensuring that the Insured Business has the appropriate level of Business Interruption insurance cover in place prior to a significant business interruption-causing event occurring.
Engaging KERR & HOLLAND to undertake a Policy Review will assist in ensuring that the Business Interruption insurance cover in place adequately indemnifies the Business should an Insured event occurs – whether it be minor or catastrophic.
KERR & HOLLAND can assist legal practitioners in the preparation or review of Economic Loss claims and can provide appraisal of Business Interruption and Material Damage claims in the event of disputes between Insureds and Insurers. KERR & HOLLAND can also assist with the verification of quantum in commercial liability recovery actions.
Training Seminars & Workshops
KERR & HOLLAND can tailor Business Interruption seminars and workshops to suit the needs of insurance brokers, insurers, insurance associations or other insurance related professionals.
Over the years, KERR & HOLLAND has presented numerous seminars and workshops to insurance brokers, insurance broking associations and insurers throughout Australia. Our seminars and workshops have been accredited by the National Insurance Brokers Association (NIBA) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) in accordance with their respective continuing professional education programmes.