“There is probably more dissatisfaction over businessinterruption insurance than about all other types of insurancecombined,” according to James Costner, senior vice president ofWillis Risk Solutions in Nashville, Tenn.

Costner was speaking before an audience at the recent Risk andInsurance Management Society Conference in Philadelphia, where hewas joined by John Dempsey, managing partner of the accountingfirm, Dempsey Myers & Co. The two presented ideas oncontrolling costs by implementing effective systems for gatheringand reporting annual business interruption values andexposures.

As in any field, documentation is only as good as the time andthought that go into it, Costner said. Risk managers who givebusiness interruption worksheets superficial treatment may learnlater that they are barely worth the paper on which they areprinted. The more thought, care, and time that go into pre-lossworksheet analysis increase the odds of complete financialprotection for time element losses.

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