Manufacturing Claims
As the owner of a manufacturing facility, the losses incurred after a natural or man-made disaster can be devastating. You are thinking about the loss or damage to machinery and production lines, whether you can still run your operation, and how you will support your employees and lost income. You do not have the time to worry about the insurance claims process. Since 1946, our team of licensed public adjusters has lifted the burden of managing insurance claims on your own. We evaluate and document not only the physical damage to your property, but also the income lost from business interruption.
As I expressed to you when we agreed to have Greenspan Adjusters International represent our firm, Sun Dry needed a timely settlement and the maximum amount allowable under the terms of our policy. It pleases me to know that your firm exceeded our expectations on both accounts. In reviewing the final settlement I would conservatively estimate that the total payment we received, because of your expert knowledge and tenacious pursuit of a fair and equitable settlement, resulted in an additional fifty percent more than we would have obtained if we would have attempted to settle without your help.
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You just suffered serious damage and are wondering what to do next.
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You call your insurance company and wait for an adjuster to come out, hoping they will have your best interests at heart.
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You move from the asset side of your insurance company's ledger to the liability side.
We Can Help
Knowing everything you possibly can about the "fine print" of your insurance policy before you have any substantive dialogue with your insurer is an absolute necessity. Know what you are covered for and how to claim it. What you say to your insurance company's adjuster and how you say it can make a dramatic difference in how much you get paid. The more you know, the better the results.
Manufacturing 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.
- What is my broker's/agent’s role?
- Does the adjuster work for us or the insurance company? Why they can't work for both. It's a conflict.
- Does the insurance company pay for professionals necessary to evaluate my claim? Are they working for me or them?
- Warranties and Protective Safeguard requirements. What do they mean? Can I still collect if I am not in full compliance?
- Is there coinsurance in my policy? What does it mean?
- What is the difference between a schedule of values and a schedule of limits?
- Does my risk manager have the requisite skill sets to negotiate a large property claim?
- What happens when the insurance company engages a forensic accountant? Who does that accountant work for?
- Increased efficiency and productivity with new equipment. Does the insurance company get a “credit?”
- What happens if I open my business elsewhere and I am successful? What if I am not successful?
- What are extra expenses? What can be included? Can I use extra expenses to offset shortfalls in property coverages?
- Is the insurance company using an independent building or equipment consultant to prepare a bid? Who are these consultants? Who are they working for? Do they only work for insurance companies?
- How is actual cash value determined? Why should I care?
- Can I compensate employees who help with cleaning or restoration?
- Replacement properties. Lease purchase strategy. Is it good for me?
- Replacing versus repairing equipment/processing lines. Pros and cons.
- How quickly can I get started rebuilding?
- How does my policy address increased costs due to new codes? If my coverage is limited, what can I do about it?
- Will the insurance company pay for a construction manager?
- Should I have concerns as to how my insurer deals with pollutants - hazardous materials - lead & asbestos?
- Stock in the yard. How far from the building is coverage afforded? Measured from where?
- How do smoke and the water used to fight the fire affect my machinery? Equipment? Computers? Other electronics?
- Valuation of raw materials. Work in progress. Finished goods. Methodologies employed.
- Can I recast my financial statements? If so, why?
- 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?
- Credit for continuing sales. How are they calculated?
- Can I continue to pay my employees?
- What is the extended period of indemnity, and how does it work?
- What is the difference between Actual Loss Sustained and Sales Value of Production and how does it affect my claim?
- What are expediting expenses? How do they differ from extra expenses?
- How do I project lost sales? Sales declines?
- How do I project sales of new products?
- Can I use proformas/budgets to calculate loss of income?
- Temporary facilities. Portables. Hardscape. Temporary or permanent? How presenting my story can affect my recovery. Do I know my policy provisions?
- Temporary locations - How to handle air quality?
- Temporary production in other owned or non-owned locations? What happens at the end of my claim?
Manufacturing References
In addition to the 5,000+ references on our list, here are some well-known names in the manufacturing industry we have helped.
- Academy Manufacturing
- Adirondack Foundries Inc.
- Am-Ko Fixture & Seating Company
- American Airless
- American Electro Finishing
- Apic Yamada Corporation
- Aranda's Tortilla Company
- Artisan Glass Works
- Atchison Casting Corporation
- B.A.I.T. Footwear
- Bald Knob Mill Veneer Company
- Beaulieu of America
- Berry's Sawmill
- National Power Company / Big Valley Power
- Boardman Print Center
- Bonded Motors
- Boral Industries
- Brighton Stores
- Burnham Corporation
- Byer Sportsware
- The Cabinet Shop
- Cal Farms Leonard Farms
- California Quality Plastics
- Carriage Industries, Inc.
- Conquest Carpet Mills
- Consolidated Fiberglass Products
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Countryman Associates
- CTD Machines, Inc.
- D.H.A. Siamwalla Ltd.
- Danfield Inc
- Del Manufacturing
- Dezario Shoe Company
- Dieter Franck, Inc.
- DiMare, Inc.
- E & M Electric & Machinery
- Ellipsis Digital Systems
- FMW Machine Shop
- Fourth Dimension Work Systems
- General Cigar Holdings
- General Furniture Design
- George Industries
- Gleason Corporation Missouri Fabricated Products
- Global Quality Foods
- Go USA, Inc.
- Guilford Mills
- Hardtimes Hardisk Technology
- Hinrichs Trading Company
- Interstate Plastics
- IOTA Engineering Co.
- Iowa Paint
- J. H. Design Group
- Keepers International
- Kit Manufacturing Company
- Kronfli Spundale Mills
- Kuk Rim USA / Encor-Tex Company
- Los Banos Gravel Company
- Maja Equipment Company
- Malden Mills Industries
- Marco Fine Furniture
- Mars Sales Company
- Marshall Durbin Companies
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Mattress Factory
- McIntyre Tile Co.
- Metrotech Corporation
- Micrel Semi-Conducter
- Murry's Family of Fine Food
- NHBB / New Hampshire Ball Bearings
- Olives, Inc.
- Orca Bay Seafoods
- Otis Spunkmeyer
- Pacific States Industries
- Payne Magnetics
- The Pillsbury Company
- Poly Fiber Aircraft Coatings
- Pressure Cast Products Corp.
- Pride Paint Company Formerly: Hoffmann Paint Company
- Quaker Maid
- Ramco Industries
- Rauch Industries
- Revere Copper Products
- Rotoflow
- S & W Seed Company
- Sacramento Utilities Supply
- San Joaquin Valley Dairymen Assoc. Richard Hughes, Accountant
- Santa Clara Plating Company
- Sawyer of Napa
- Silveria Brothers Farm
- Skechers
- Snyder's of Hanover
- Sonderen Packaging
- Specific Plating
- Standard Structures / Shilo Oaks Company
- Stanley Wood Products
- Stevenson Industries
- Stomp, Inc.
- Sun Dry Products
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Sun Valley Raisins
- Superior Industries International
- Superior Moulding
- Tarrant Apparel Group
- Traynham Warehouse
- Ultra-Tool International
- Egon Vollrath
- Wasserman, Comden & Casselman
- Wawona Frozen Foods
- Wilkey Sheet Metal
- York International
The Difference Public Adjusters Make
We work exclusively for YOU, not the insurance company. Our insurance professionals have managed and negotiated thousands of claims for nearly every type of natural and man-made disaster. Local in our approach, we have over forty offices across the U.S. and Canada, and an unmatched network of expert resources to efficiently mobilize and be at your side.