Estimating Loss – Executive Summary.
You are the practice manager for a four-physician office. You arrive on Monday morning to find the entire office suite flooded from overhead sprinklers that malfunctioned over the weekend. Water stands ankle-deep everywhere. The computers are fried and the contents of all the filing cabinets are soaked. Your own office, where most of the records were stored, has the worst damage. The practice carries valuable papers insurance coverage for an amount up to $250,000. The coverage is for content insurance that should cover the damage to the furnishings, equipment, and to the computers, and the insurance company adjuster will come tomorrow to assess the furnishings and equipment damage. However, your boss is sure that the insurance settlement will not cover replacement costs. Write an Executive Summary using the executive summary template attached ensuring to discuss the following: 1. You have been instructed to prepare an estimate of what has been lost and/or damaged plus an estimate of what the replacement cost might be. How would you go about it? 2. What would your summary of the losses look like? 3. What is the plan to address the difference if the policy does not cover everything? 4. How will you go about recovering data and patient information that was on the computers? 5. Would or should this loss be covered as well or is there some other coverage that is for data?