The differences between Large Losses and various other types of losses can be startling. For example, a Factory Fire at a plant that uses Heavy Machinery may lose its office operations but sustain moderate damage to the machinery floor itself so all efforts turn toward getting the manufacturing capacity up and running as quickly as possible while you can bring in portable office space, telephone capabilities and utilities, quickly and easily in order to give the outside world the appearance of a company who is highly functional despite the catastrophic loss of it operating facilities. In short order, they can be taking calls, receiving orders, fulfilling orders and the like with the capable skills of a trained and experienced large loss specialist familiar with such activities. Prompt Mitigation work to wipe down that machinery is critical in limiting loss.
During many of the 35 CE classes I taught in 2009 I was asked to address a growing concern among the Insurance Industry; adequate Insurance coverage. Whether it is used as a method of control over rising costs or simply a shortcut designed to save money in a tight economy, more and more Restoration firms are chosing not to pay for the necessary and growing list of risks that are associated with the nature of Restoration work today. Because of that, I was asked to address the issue in writing about the risks associated with this type of work and the need for such coverage to protect the general public and the Insurance Carriers themselves who may be involved in referring companies who do this work.