On 12 September 2018, Hotel Baltschug Kempinski in Moscow hosted the business discussion “Business Interruption: Current Approaches to Insurance Issues and Settlement of Losses” arranged by the Union of Insurance Experts and Adjusters (UIEA) together with forensic accountants RGL (UK) and MDD (UK). 

The event was attended by more than 130 participants, including representatives of insurance and reinsurance companies, international brokers, corporate business, and insurance consulting companies. 

Opening the discussion, the Union of Insurance Experts and Adjusters introduced two new members of the Union: Vegas Lex law firm and Swiss Appraisal valuation company. 

At the first session Mr. Viktor Petrov, Head of Litigation Practice at Vegas Lex, delivered a presentation on legal aspects of BI loss settlement and recovery. Director of RGL Mr. Vlad Prykmeta in his speech shared his experience in handling BI claims resulting from cyber attacks. 

Ms. Anastasia Kupriyanova, Deputy Head of Non-Marine Claims Department of ISLAB LLC (RusSurvey®) in association with Crawford, related loss adjusting practices in assessing BI losses in power plant operation. The presentation was focused on three case studies regarding Increased Cost of Working (ICW); Loss of Gross Profit due to Undersupply of Power and Capacity Market Losses. 

From left to right: Viktor Petrov (Vegas Lex), Vlad Prykmeta (RGL), Anastasia Kupriyanova (RusSurvey® in association with Crawford). 

At the second session of the business discussion MDD experts Dmirty Norkin and Markus Heiss continued focusing on handling BI claims in the energy sector. 

The representatives of UIEA discussed issues related to the general approach to BI claim handling and BI claim handling practices in other business sectors, in particular in the retail sector, metal and processing industries, and agriculture.

From left to right: Markus Heiss and Dmitry Norkin (MDD), Alexander Trubnikov, Anastasia Kupriyanova, Pavel Shaptsev and Pavel Banykin (RusSurvey® in association with Crawford)  

Closing up the discussion, Mr. Pavel Shaptsev, UIEA Managing Director, Deputy General Director of ISLAB LLC (RusSurvey®) in association with Crawford, outlined near-term plans of the Union.