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Business Interruption Claim Following a Fire Loss for a Funeral Home

Accumyn prepared detailed analyses and provided expert services for a commercial insurance client in a business interruption and extra expense dispute with its insurance carrier following a fire at a funeral home. The client operated more than one funeral home facility, and was able to shift work to alternate facilities to process and prepare deceased for final disposition. The insurance carrier involved sought to minimize the loss of income and extra expense experienced to keep the client operational during reconstruction.

Accumyn’s work included a review of insurance coverages provided and computation of actual losses sustained, reviewing records of previous customers who experienced a subsequent death of a family member during the period of reconstruction, and found that many previous customers used competitor funeral homes during that period.   Separately, the cost to prepare deceased for final disposition grew significantly as transportation costs to other owned facilities and hiring of additional staff at those facilities grew substantially. The loss of income and extra expense was minimized by the insurance carrier, and the client was offered approximately $100,000 for its loss.

Final settlement, following Accumyn’s analysis of claim value computation by the insurance carrier and preparation of an expert report to the insurance carrier showing errors in its original settlement approach to the claim, resulted in payment to Accumyn’s client of approximately $350,000 – the value calculated in Accumyn’s report.