Sawmill / Lumber / Logging Industries
Globe Midwest/Adjusters International has been helping professionals in the lumber and logging industries negotiate fair and just settlements for lost and damaged property due to storms, floods and man-made accidents since 1924.
As your licensed public adjusters, we evaluate, document, and negotiate not only the physical damage to your property, but also the income lost from business interruption and the extra expenses that are incurred.
Our team understands the complexities of the insurance claim process and leverages our expertise to optimize your settlement.
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Your business just suffered serious damage and you are wondering what you need to do to expedite financial and operational recovery.
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2
You call your insurance company and wait for an adjuster to arrive, assuming you’ll receive what your insurance policy states you’re covered for. Afterall, that’s why you’ve been paying your insurance premiums all along, right?
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3
As a client of your insurance company, your claim is now a liability on its financial statements.
We Can Help
Knowing everything you possibly can about the "fine print" of the insurance policy before you begin communication with the insurance carrier is critical. Understanding what is covered and how to claim it is where our firm's expertise starts to be of value.
Choosing what to say to the insurance company's adjuster and how to say it makes a dramatic difference in how much and how quickly a settlement is secured. Globe Midwest/Adjusters International's public adjusters are experts in insurance claim negotiation.
The more you know, the better the results, so turn to the firm who has been in the field since 1924 and has the repertoire of satisfied clients to prove it.
Factors To Consider
Be sure to understand each of the following factors before engaging with the insurance company. Knowledge is the key to a successful claim outcome.
- How is stock in the yard handled? How far from the building is property insurance coverage afforded and from where is it measured?
- How is the value of raw materials calculated? What happens to work that was in progress at the time damage occurred? How are finished, but not yet sold goods covered?
- How is actual cash value determined? Why should I care?
- What are the pros and cons of replacing versus repairing equipment?
- How do smoke and the water used to fight the fire affect my machinery, equipment, and other electronics?
- Are vehicles covered? What about engines and parts?
- How quickly can I start rebuilding?
- How can the way I present my story affect my recovery?
- Do I know my policy provisions?
- What is my broker/agent’s role?
- Does the adjuster work for me or the insurance company? Why should this be a red flag?
- Does the insurance company pay for the necessary professionals to accurately evaluate my claim?
- What happens when the insurance company engages a forensic accountant? Who does that accountant work for?
- Will the insurance company pay for a construction manager?
- Is the insurance company using an independent building or equipment consultant to prepare a bid? Who are these consultants and do they only work for insurance companies?
- Should I have concerns as to how my insurer deals with pollutants, hazardous materials, lead and asbestos?
- How does my insurance policy address increased costs due to new codes? If my insurance coverage is limited, what can I do about it?
- Can I continue to pay my employees?
- Can I compensate employees who help with cleaning or restoration?
- Does my risk manager have the requisite skill sets to negotiate a large property claim?
- What are Warranties and Protective Safeguard requirements? What do they mean, and can I still collect if I am not in full compliance?
- Is there coinsurance in my policy? What does it mean?
- Do I understand why coinsurance clauses in loss of income coverage can lead to disastrous results when including labor expenses in the cost of goods manufactured and exclude those labor expenses in the business interruption evaluation?
- What is the difference between a schedule of values and a schedule of limits?
- What is the difference between Actual Loss Sustained and Sales Value of Production and how does it affect my claim?
- How is credit for continuing sales calculated?
- How do I project lost sales and/or sales declines?
- What are extra expenses? What can be included? Can I use extra expenses to offset shortfalls in property coverages?
- What are expediting expenses? How do they differ from extra expenses?
- Can I use proformas/budgets to calculate loss of income?
- Can I recast my financial statements? If so, why?
- How can I continue to intake new material? Can it be staged elsewhere pending resumption of partial or total operations?
- Should I be looking into replacement properties? Would a lease purchase strategy benefit me?
- What happens if I open my business elsewhere and I am successful? What if I am not successful?
- How does operating at a temporary location work? What happens at the end of my property insurance claim?
- What about temporary production in other owned or non-owned locations? What happens at the end of my property insurance claim?
You and your team of professionals did an excellent job in representing us after the large fire destroyed one of our warehouses... I was impressed with your professionalism and quick response. Both kept our insurance claim on track for an early and fair settlement.
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Who We've Helped
Globe Midwest/Adjusters International has helped clients secure the settlements they need to meet their financial and operational recovery goals since 1924.
Don't just take our word for it. Read statements written by other professionals in your industry.
Globe Midwest/Adjusters International employs expert public adjusters who specialize in insurance claim evaluation, documentation, and negotiation. Read how we have helped clients who were once in similar situations to yours.