Large Loss Claims

Large Loss Claims

Did you know that some larger policies offer claims preparation coverage? Specifically, our services may be paid by the insurance company in addition to your damages.

What are Large Loss Claims?

All large loss claims are complex insurance situations, detailed endeavors and are largely dependent on circumstances.  Our experienced large loss insurance claim consultants are full project managers with licenses and certifications recognized throughout the industry. A large loss claim can be any insurance claim, which is determined as complex and of significant loss value.

Complex insurance claims require a multitude of expert consultants such as engineers, architects, experienced estimators, insurance policy experts, CPA’s and claims management professionals. The insurance company has all of these experts in place prior to the event of your loss.

It is to your benefit to retain your own firm to manage this process on your behalf to allocate the proper experts and to achieve the greatest outcome of claim satisfaction. Claim satisfaction may not be specific to financial outcome, but an expeditious, accurate closure to avoid business interruption.

How are Large Loss Claims Handled by the Insurance Company?

Initially, the insurance company will send out an EGA (executive general adjuster). That person is often times considered to be just that, the general. They will:

  1. Immediately recognize which experts are needed to consult with.
  2. Recognize the validity of the claim as a whole
  3. Determine whether or not coverage is in place for the specific loss.
  4. Determine whether co-insurance penalties will limit the amount payable.
  5. Approximate how long the entire process should take.

This team of experts has a clearly dictated standard operating procedure, which can often pose a conflict of interest to you as the claimant.  Their best interests are not necessarily your best interests, which is where ACG can help.

“Every business decision ACG makes will directly reflect what’s best for your business, not mine. We understand what it truly means to be a client and not just a customer.” – Michael Fried, President ACG, LLC

How does ACG Handle a Large Loss Claim?

The process involves working alongside claims adjusters, engineers, forensic consultants, architects, CPA’s, appraisers on both sides of the loss, or claims attorneys. Our personal property inventory team will be deployed immediately to assist in determining the value in loss of any business personal property, scheduled personal property, or unique and rare articles.

  1. We immediately review the policy and coverage to determine the most effective and expedient course of action for recovery.
  2. We physically inspect the loss location and deploy the proper experts needed for each individual loss.
  3. Our team of engineers, forensic build consultants and highly skilled estimators will promptly determine the amount of loss applicable to all coverages affected.
  4. Internally we peer-review every document prior to submission.

When we determine the validity and accuracy of a case and it is not properly handled by the insurance company with a satisfactory outcome ACG has methods to handle such a situation. In some instances it may be necessary to consult with an attorney. We can provide a list of first-party litigation law firms tailored to your individual needs.

i.e. Some attorneys work better against certain insurance companies, whereas other attorneys may specialize in certain causes of loss.

Commercial, business and large residential losses are complex situations that require expert consultation to properly execute.

Why do you need a consultant for a large loss claim?

Each large loss claim is a unique situation, with unique coverage to interpret. The interaction with business owners, lawyers, insurance adjusters, appraisers and contractors is always complex. Handling large loss claims is a full time job. We are large loss consultants with expert knowledge in the entire claims process. This is our full-time job. Out unique experience and certifications allow to expertly, and expeditiously maximize the most successful outcome to you insurance claims needs.

We examine property losses for commercial, industrial and multi-family clients. A large loss claim is complex, and thorough analysis from our experienced adjusters can uncover details to your benefit.