Research University – Case Study
THE CHALLENGE: A fire occurred in a research lab the result was significant damage to the building and the research/lab equipment housed in the lab. In total, the damages sustained impacted faculty and students, and several high precision research labs. The client was left with the challenge of developing a transparent and concise communication plan with the many impacted stakeholders, all while having to document and support a complex claim. Specifically, the calculation of the overall impact to lost future research grants.
THE SOLUTION: Following the loss, the client retained the services of Procor, to help organize, prepare and present its claim to the Insurer. In addition to organizing, preparing, and presenting the claim, Procor assisted the University and the Risk Management team with project management and communication amongst multiple parties to streamline the claim process. Included in the claim was the cost to establish temporary space for professors to conduct research while waiting for repairs to be complete.
THE RESULT: Procor successfully prepared the following claim categories; Property Damage, Business Personal Property (“BPP”) / Equipment, Gross Earnings (or Business Interruption), Extra Expense, and Professional Fees.