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Insurance Implications of Super Storm Sandy: How Are My Lost Profits Measured?


Product Code - LGN108
Speaker(s): Brad Murlick, Navigant Consulting; Derek W. Royster, RGL Forensics; Stephen E. Goldman, Robinson & Cole LLP; Matthew L. Jacobs, Jenner & Block LLP
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In this session from a full-day live conference of the same name, a four-person panel consisting of an insurance consultant, a forensics investigator, and two attorneys discuss how to place a value on loss experienced when a business is forced to temporarily close due to severe storm damage.

The panelists discuss the period of restoration, an extended period of indemnity measurement, basic damage issues, the loss of a business’ market, loss calculation methodologies, and valuation.

This content is presented through a Bloomberg BNA and HB Litigation Conferences LLC partnership.

Educational Objectives:

• Learn how insurance adjusters place value on the loss of an organization’s business for a certain period of time.
• Understand how damages are assessed.

Who would benefit from attending the program?

Insurance professionals and attorneys who deal with disputes arising from insurance claims.

Program Level: Intermediate.

Brad Murlick, Navigant Consulting; Derek W. Royster, RGL Forensics; Stephen E. Goldman, Robinson & Cole LLP; Matthew L. Jacobs, Jenner & Block LLP

Brad Murlick, Navigant Consulting
Brad Murlick is a Managing Director in the Disputes & Investigations practice. He assists clients worldwide on insurance claim recovery matters involving property/business interruption, fidelity/employee dishonesty, product recall, builders risk, and political risk, among others. He has also assisted numerous insurance brokerage clients in the defense of E&O matters involving property and casualty disputes and litigation. He has testified both at arbitration and federal court. Mr. Murlick is well-published and is frequently quoted in insurance industry publications. He has also appeared on NPR, CNBC, and Summit TV (South Africa) to discuss claim issues. Mr. Murlick earned an M.B.A. from Michigan State University and a B.A. from the University of Michigan.

Derek W. Royster CPA/ABV/CFF, CFE, RGL Forensics
Derek Royster is a Partner with RGL Forensics and provides accounting and consulting expertise. He has worked extensively with insurance companies and attorneys focusing the scope of his career on forensic accounting, the measurement of economic damages and litigation support. Mr. Royster earned an M.B.A. from the University of North Carolina at Charlotte and a B.S. from East Carolina University. He is a certified public accountant; accredited in business valuation by the American Institute of CPAs; certified in financial forensics; a certified fraud examiner; a member of the American Institute of Certified Public Accountants; a member of the North Carolina Association of Certified Public Accountants; and a member of the Association of Certified Fraud Examiners.

Stephen E. Goldman, Robinson & Cole LLP
Steve Goldman is a nationally recognized trial lawyer with 30 years of experience litigating and trying a diverse range of cases throughout the United States. During that time, Mr. Goldman has served as counsel for insurers in many of the country’s most significant property insurance coverage cases, including, most recently, Sher v. Lafayette Insurance Company (upholding the flood exclusion in Louisiana following Hurricane Katrina), Landry v. Louisiana Citizens Insurance Company (holding Louisiana’s Valued Policy Law inapplicable to certain Katrina-related claims), and Streamline Capital v. Hartford Insurance (refusing to adopt the time necessary to rebuild the World Trade Center as the “period of restoration” for WTC tenants). As an advocate and advisor for international and domestic insurance carriers and insurance industry organizations, he has handled numerous high-impact cases arising from catastrophes such as Hurricanes Katrina and Andrew, the terrorist attacks of 9/11, and the anthrax scare in 2001. Mr. Goldman has appeared as counsel in trial and appellate courts in 22 states and has aggressively litigated and, in many instances, tried high-exposure cases throughout the Northeast and in jurisdictions as diverse as Florida, Louisiana, Texas, Kansas, Oklahoma, and Iowa. He also has significant experience litigating class actions, especially those based on insurance coverage issues and insurer market conduct.

Mr. Goldman earned a J.D. from New York University School of Law and a B.A., magna cum laude, from Wesleyan University, where he was Phi Beta Kappa.

Matthew L. Jacobs, Jenner & Block LLP
Matthew Jacobs is a litigator who handles complex, multi-party insurance coverage matters in state and federal courts. Corporations also seek his counsel on the availability of insurance coverage for a wide variety of claims, ranging from directors and officers liability and mortgage lending practices to business interruption losses, product liability and regulatory investigations and environmental matters. He also regularly advises Fortune 500 companies in the placement of various types of insurance coverage.

Mr. Jacobs earned a J.D. from the University of Virginia School of Law and a B.A. from Princeton University.

If you have questions regarding a specific state or how to file for CE credit, please contact Bloomberg BNA customer service at 800-372-1033 and ask to speak to the Accreditation Coordinator or email us at accreditations@bna.com.

Hardship Policy
Bloomberg BNA offers a hardship policy for attorneys earning less than $50,000 per year. If an attorney wishes to take advantage of this option, he or she must contact Bloomberg BNA directly. For attorneys who are unemployed or earning less than $35,000 per year, a full discount off the price of the program will be awarded upon written proof of hardship. Attorneys earning between $35,000 and $50,000 per year will receive a 50% discount off the price of the program. Any attorney working in the public service sector also qualifies for a special price. If you have further questions regarding the hardship policy or seek additional information, please contact Bloomberg BNA customer service at 800-372-1033 and ask to speak to Lindsey Pace, CLE Accreditations Coordinator, or email us at accreditations@bna.com.