Commercial Claims

Real Estate Industry

• • Investors 
  • Property Managers 
  • Brokers 

Manufacturing Industry 

• • Food, Beverage and Tobacco  
  • Textile, Leather and Apparel 
  • Wood, Paper and Printing
  • Primary Metal, Fabricated Metal and Machinery
  • Plastics and Rubber
  • Computer and Electronics
  • Electrical Equipment and Components 

Healthcare Industry 

• • Hospitals
  • Surgery Centers 
  • Medical Offices and Clinics
  • Dental Offices

Retail Store Owners 

• • Jewelry Store
  • Gift and Souvenir 
  • Clothing and Footwear
  • Hardware Store
  • Sporting Goods Store
  • Toy and Memorabilia Store

Restaurants & Taverns 

• • Gastropubs and Bars 
  • Night Clubs
  • Fine Dining 
  • Restaurant Groups 

Hospitality 

• • Resorts
  • Hotels
  • Motels
  • Vacation Rentals 

Professional Service Organizations

Private Clubs & Associations

• • Country Clubs
  • Lodges 
  • Networking Organizations

Religious Institutions 

Government 

Educational

• Building
• Business Interruption
• Business Personal Property
• Boiler & Equipment Breakdown
• Cyber & Computer Fraud
• Crime
  • Employee Dishonesty
  • Forgery

• Debris Removal
• Law & Ordinance
  • Increased Cost of Construction
  • Demolition of Undamaged Property
• Accounts Receivable
• Fine Arts / Valuable Papers / Personal Effects / Employee Property

• Contact your insurance broker
• Take reasonable steps to prevent further damage
• File Police report if theft occurs
• Assemble your team of experts

• Letter of Representation
• Proof of Loss Form
• Reservation of Rights Letter
• Non Waiver Agreement
• Policy Release
• Subrogation Receipt
• Emergency Services Authorization

It’s important to understand the mechanics of the business interruption claim. Coverage is provided as a result of physical damage by a covered cause of loss.

Your business interruption insurance covers lost net profit + continuing and fixed operating expenses and above normal expenses necessary to resume operations.

Examples of continuing expenses are:

• Continuing payroll necessary to resume operations.
• Interest expense obligations of the business.
• Rent expense if required under the terms of the lease agreement.
• Insurance expense.
• Legal and professional fees.
• Advertising that continues under contract.
• Certain depreciation and other fixed costs.

Examples of above normal expenses are:

• Rent and setup of a temporary location.
• Additional advertising expense to notify consumers of the temporary location.
• Rental of office furniture, fixtures, and computers for the temporary location.
• Above normal expenses associated with the replacement of inventory and supplies…ex. Expedited shipping.
• Above normal costs associated with expediting the replacement of machinery and equipment.

Why is cyber coverage important: 

Hackers can target personally identifiable information (PII) or personal health information (PHI) you keep on your business’ computers. That’s why it’s important to protect your business with data breach or cyber liability insurance, helping you respond quickly after a data breach or cyberattack. These coverages can help if:

• Your business’ computers are infected with a virus that exposes private, sensitive information.
• Customers or patients seek certain remedies after your business loses PII or PHI.
• You’re faced with high public relations costs to help protect your business’ reputation after a data breach.

If your business is the victim of a cyber crime, your policy can help to pay:

• Notify affected customers, patients or employees
• Hire a public relations firm
• Offer credit monitoring services to data breach victims
• Legal services to help you meet state and federal regulations
• Notification expenses to alert affected customers that their personal information was compromised
• Extortion paid to recover locked files in a ransomware attack
• Lost income from a network outage
• Lawsuits related to customer or employee privacy and security
• Regulatory fines from state and federal agencies

Having equipment breakdown coverage:

• Provides coverage for physical damage to machinery.
• Provides business interruption coverage as a result of the machinery breakdown.
• Provides coverage for damages associated with electrical failure and power surges.
• Provides coverage for damages caused to any pressure gauges, valves, and boilers.
• Spoilage to inventory and perishable goods due to a failure of refrigeration equipment.

• At Morgan Ryan we utilize the most current technology available to support our damage estimates.
• If needed we support our damage estimates with architectural engineering professionals.
• Our damage estimates are tailored to the available coverage for replacement costs, actual cash value, as well as increased cost of construction resulting from the enforcement of building ordinance or laws.
• Our in-house building expert has the capability of interacting with any experts retained by the insurance company.

• Following a loss, our in house contents appraiser will inventory the damaged property.
• In conjunction with the insured, our contents appraiser assigns a replacement cost value to each of the damaged items.
• The claim is supported by current replacement cost estimates as well as industry recognized documentation.
• Our in-house contents expert has the capability of interacting with any experts retained by the insurance company for this coverage.

• Employee dishonesty claims can result from stealing inventory, equipment or money.
• These schemes can result in a minor theft over a short period of time or a significant amount over an extended period of time.
• We analyze all policies in force during the period of time associated with the theft. This allows for the ability to make a claim under any policy that may have been in force prior to the current insurance policy.
• Our in house accounting expert has experience in the preparation and documentation needed to support the claim.
• Our in-house accounting expert has the capability of interacting with any forensic accountants or other experts retained by the insurance company for this coverage.