Large Versus Complex Losses

When complexity outweighs size.

Deciding to bring in a large loss expert can greatly streamline and expedite loss estimating, site securement, and overall recovery efforts.  The question that many run into when making that decision is, "When is a loss considered a large loss?" The term can vary between individuals and firms, but usually is based on:

  • The overall size of the loss
  • The value of the claim
  • The complexity of loss resolution or restoration

Whenever a claim's value exceeds what you or your firm considers a large amount, it's always safe to bring in an experienced expert to ensure a smooth resolution. A common misconception however is that a project's size equals complexity. RMC's Large Loss Coordinator Dan Turpin weighed in the matter, explaining, "Anyone can handle a 'large loss', but not always complex... I consulted on a large shopping mall damaged from a $71 million wind loss. It wasn't complex, it was just a large rooftop replacement."

Losses become complex when project variables start to overlap, from temporary shoring to code concerns, life safety, and other logistical challenges. "You have to pack what would normally take 2 years for planning into 2 days." Large loss experts take decades of industry experience to oversee claim resolutions and property restoration, putting the pieces together to form an air-tight recovery plan.

So when the pieces aren't clear, a large loss expert will help make sense of otherwise complex or confusing claims. Learn more about large losses by contacting us today.