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CASE HISTORIES

Where There's Smoke, There's Fire

Problem: An insurance claim arose as the result of a fire at the insured's manufacturing facility and the ultimate bankruptcy of the company. The claimant attributed the insurance carrier's failure to settle their claim as the reason for their bankruptcy.

Solution: SIU was retained by a large insurance carrier to evaluate the merits of a business interruption claim. SIU'S accountants examined corporation records and determined that the company's bankruptcy was brought about by the loss of its largest customer, six months before the fire occurred. Other questionable business practices by the company's top executives were discovered.

Results: The case was settled for less than 10 percent of the original claim.