A fire, a flood, a collapse. After a major loss event, the insured – project owner or contractor – will make a claim upon their Builder’s Risk (Course of Construction) Insurance. The process for all parties can be complex, chaotic and costly. We can simplify it for you. As an insurer, you need to sift through a pile of numbers to find out how much revenue loss you’d have to pay to the insured due to delay, interruptions, loss of use, and so on.
At JTE, we can help you assess, verify, and quantify the loss related to their claimed delays and disruptions
We can investigate the claim and determine whether or not the insured’s project was already delayed regardless of the loss event. If not, how much delay and productivity loss do you attribute to the loss event, so you can adequately compensate the insured for that part as well.
We are well equipped for forensic delay analysis. What matters greatly is quantifying the actualloss sustained. We can help you verify whether the claimed delay and disruption were “solely” attributable to the loss event or not. The insured project could have been delayed for other reasonsprior tothe loss event. Therefore, the loss event itself would not have affected the delay. And you would not need to pay the insured for that part of their losses.
Whatever your situation, we understand your rights and obligations under Builder’s Risk Insurance. JTE can help you reduce or avoid the conflicts and huge payouts that insurance claims often cause.