Article:

Most business owners buy insurance that covers the eventuality of some event happening that prevents the business to operate for either a short time or permanently. Examples include fire, earthquake, floods, etc. Unfortunately, when such a disaster occurs there usually follows an attempt by the insurance company to pay as little as possible. While this is somewhat expected, the vehemence and stubbornness of the insurance adjustors to revise their findings can be downright shocking. Most business owners give up and accept the insurance payment as full compensation. Others choose to hire a law firm to deal with the insurance company.

In simple terms an insurance claim for business interruption is an attempt by the insurance company to replace "what would have been" but for the disaster. There is a period for which business is interrupted (usually limited in the contract to a number of months). For that period the insurance company is theoretically to replace the profits that would have been earned. If there is a disagreement between the insured and the insurance company it is usually in how that lost profit number is calculated.

Before a lawyer is hired, consideration should be given to retaining a forensic accountant who has experience in such matters ... (read complete article)

Speeches:

Chris Hamilton's upcoming presentations include:

October:

• "Corporate Fraud - The Madoff Case" presented for Rotary in Simi Valley, CA
• "Market Approach" presented for NACVA in Las Vegas, NV
• "Special Purpose Valuations" presented for NACVA in Las Vegas, NV
• "Valuation Fundamentals, Techniques, and Theory" presented for NACVA in Houston, TX
• "Income and Asset Approaches to Valuation" presented for NACVA in Houston, TX

November:

• "Valuation Fundamentals, Techniques, and Theory" presented for NACVA in San Diego, CA
• "Income and Asset Approaches to Valuation" presented for NACVA in San Diego, CA

If you are interested in asking Mr. Hamilton to speak at your organization's upcoming meeting, please feel free to contact him.

Practice Profile:

Arxis Financial's "Forensic Accounting" practice offers a particular focus on quantifying the financial and economic issues in "business interruption" matters. Business interruption refers to loss of income resulting from a temporary shutdown, destruction of property, fire or other peril. Typically insurance coverage is purchased to protect against such business expenses and loss of income. Since insurance policies differ significantly as to their terms and conditions, a forensic accountant is often asked to assist either the insured or insurer in the appropriate method of calculating the loss. Arxis Financial's professionals apply detailed investigation and analysis that is necessary to uncover essential facts and provide meaningful insights. Expert analysis and conclusions are presented in depositions and trial at local, state and federal court levels as well as mediation and arbitration. We assist attorneys in interpreting the data and help counsel to understand and analyze events or issues.

The Business Valuation practice is headed by partner Chris L. Hamilton, CPA, CFE, CVA. Mr. Hamilton is a Certified Public Accountant, Certified Fraud Examiner, and a Certified Valuation Analyst. He is a licensed life and disability insurance agent and a General Securities Representative. Mr. Hamilton has published articles in several publications, and has made presentations at national conferences, training institutes and seminars on topics including forensic accounting, fraud and business appraisal.