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Through our support and response to the Canterbury and Kaikoura earthquakes, PwC has developed extensive expertise in assisting clients to understand their business interruption insurance cover, supporting the preparation of claims that maximise the client’s entitlement, and acting as the client advocate with loss adjusters and insurers.
We have prepared in excess of 140 earthquake focused business interruption claims and are one of the most experienced business advisors in this area outside of the insurer appointed loss adjusters. Claims have ranged in size from just under $100,000 through to multi-million dollar claims.
We act as the independent client advocate to deliver the best outcome for our clients. This frequently involves liaising with loss adjusters to ensure they adequately understand a client’s position. We can also, where appropriate, work with a client’s insurance broker.
Services
Policy review
Review of your business interruption policy to develop an understanding of entitlements and map these entitlements against your situation.
Peer reviews of claims prepared by other advisers
Undertaking reviews of other advisers claims to ensure compliance with the business interruption policy and to identify any areas where the claim could be improved.
Advise on claim strategy
Developing an overall strategy around setting up and presenting the business interruption claim. This also includes developing strategies when the claim is being reviewed by the insurer’s loss adjuster.
Claims preparation
Preparation of business interruption claims of varying sizes and industries. In particular, we focus on applying for an immediate progress claim to provide working capital promptly, which is often critically needed. We then move onto a comprehensive settlement report using our broad commercial expertise to ensure we maximise value for you. Through the PwC network we can bring in industry specialists where required.
Client advocacy
We act as your independent advocate, detached from the insurance broker, insurer and loss adjuster. Our sole focus is maximising the value of your business interruption claim.
Assistance with claims settlement
Liaison with the insurer’s loss adjuster and insurers/brokers to help negotiate and settle the claim. This process can sometimes be quite complex, drawn out and confusing. We look to lead this process while supporting you to achieve your objectives and utilise our experience from previous dealings with senior members of New Zealand resident loss adjustors.
Service approach
This is our service delivery approach for business interruption claims (it is important to note that each claim is tailored to your specific requirements):
Cost
In most cases, your business interruption insurance policy will cover the cost for the preparation of a claim on your behalf.
As such, we highly encourage you to ensure you utilise this funding, especially having paid for it already, to ensure you have a professionally prepared claim by advisers with specific expertise.
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