Indirect Damage Appraisal
For years, Exsafe has been supporting companies in risk management and in creating Business Continuity plans. This is why we act as party-appointed experts to support companies in quantifying Indirect Damages and in preparing appraisals to present to the insurance company's expert.
Party-appointed expert for indirect damage quantification
"Prevention is better than cure". Companies need a risk management plan that allows them to overcome highly critical situations. The extensive experience gained in the field, combined with management and economic expertise, has enabled Exsafe to support companies in the correct quantification of Indirect Damages following a business interruption.
Companies want to protect themselves from the economic consequences of a Business Interruption: this is achieved through a careful analysis of risk status, for each of which intervention lines are drawn up combined with suitable insurance coverages. Exsafe works alongside the company as a party-appointed expert in preparing the appraisal and in negotiations with the insurance company's expert.
Types of coverages and indirect damages
Gross Profit Loss
Quantification of Loss of Profit (LOP) resulting from the interruption or reduction of business activity, calculated on the basis of expected gross profit.
Increased Costs
Assessment of additional costs incurred by the company to limit the consequences of the loss and quickly restore business operations.
Supplier Damages
Quantification of indirect damages caused by supply chain interruption or losses at critical suppliers and customers.
Contribution Margin
Calculation of the loss of Contribution Margin considering the fixed costs that the company continues to bear during the downtime period.
All Risk
"All risk" coverages that provide for the coexistence of multiple guarantees under a single contract, including the extension for indirect damages.
Cyber Risk
Insurance coverage for indirect damages resulting from data breaches, network failures, content liability and information system interruptions.
How we manage the appraisal
A methodical and transparent approach to the correct quantification of indirect damages in support of the company
Claim acceptance
Receipt of the loss notification and initial analysis of the company situation and the existing insurance coverage.
Document collection
Acquisition of accounting documentation, financial statements, contracts and economic data necessary for the quantification of indirect damage.
Technical analysis
In-depth study of company data, identification of calculation parameters and the most appropriate methodologies for the specific case.
Damage quantification
Calculation of gross profit loss or contribution margin, assessment of increased costs and extraordinary expenses incurred.
Appraisal drafting
Preparation of the detailed appraisal report with all calculations, documentary evidence and methodologies used.
Negotiation
Support in the discussion and negotiation phase with the insurance company's expert until the indemnity is settled.
Our strengths
Field experience
Years of experience in corporate risk management and Risk Management, with deep knowledge of Business Interruption dynamics.
Economic-management expertise
Ability to combine technical and management skills for a precise and documented quantification of indirect damages.
Independent party-appointed expert
We act exclusively in the interest of the insured company, ensuring a fair and complete quantification of the damage suffered.
Speed and concreteness
We manage appraisals quickly and with a concrete approach, accelerating the claim settlement and the payment of the indemnity.
Have you suffered indirect damage and don't know how to quantify it?
Whether you are a broker looking for a partnership or a company that has suffered a loss, contact us to discuss your case. Our experts will support you in quantification and appraisal management.