COPING WITH DISASTER

Reviews problems arising with insurance in respect to the very high incidence of retail fires, with arson a major cause. Retailers must be aware of policy requirements and minimize damage without starting remedial work. Inadequately prepared claims are a problem and retailers need to assess their loss and prepare claims properly, difficult when estimating consequential loss. Claims preparation and negotiation with adjusters, forensic scientists and accountants employed by the insurer may be assisted by the retailer using a professional loss assessor who will also advise on reorganizational requirements. The aim is to restore the retailer′s business in the shortest possible time.