Our firm was engaged by an independent insurance adjuster to review a claim for a loss of rental income resulting from a fire that damaged a large apartment building complex.
Our role involved quantifying the economic loss as well as identifying any actions taken by the insured to mitigate the loss (e.g. relocating tenants to other properties owned by the company). Our assessment involved a detailed review of local vacancies over the relevant time period to assess the projected normal vacancies of the subject property, absent the loss. The loss analysis included a detailed review of the entity’s accounting records including the rent roll and all of the common area costs before and after the affected period to fully assess the economic impact of the loss.