$120 Million Recovered After Catastrophic Fire

Challenge

When a catastrophic fire engulfed a key food processing plant, a leading global food manufacturer was left with a large, complex property claim. It turned to Hylant’s team of claim experts to help manage the process and advocate on its behalf.

Solution

To ensure this client recovered the maximum amount possible, Hylant immediately engaged an independent loss adjuster and a third-party forensic accounting firm to support the claim.

Within days of the loss, the insured, the adjuster and Hylant met onsite to establish and agree upon the manufacturer’s approach to managing this claim. Communicating protocols across all parties assisted with better claim management.

The forensic accounting team began work to establish costs associated with property damage and business income loss. It is always best if the insured presents its numbers to the insurer rather than relying on the insurer to establish numbers on its own.

The more complex a loss is, the more critical communication becomes for successful claim resolution. Therefore, Hylant established weekly meetings with all parties, including carriers, first meeting one-on-one and then as a group.

At in-person and virtual meetings, tasks were assigned, areas of dispute were candidly yet respectfully discussed, and meaningful business relationships were formed. By nurturing a collaborative spirit among team members, Hylant paved the way for steady progress.

Following a thorough step-by-step process, all recovery options were explored and pursued fully. The client’s claim was successfully filed and closed in a timely manner, resulting in a $120 million recovery.