Michael J. Skweres

Michael has over 30 years of focused experience in the analysis and quantification of property and business interruption losses resulting from catastrophic events (fire, floods, hurricanes, earthquakes, etc.) on behalf of clients in a wide variety of industries. He also has significant experience in preparing large-scale losses resulting from cyber incidents and data breaches, builders’ risk, product recall, product liability and fidelity / employee dishonesty claims. Michael has prepared claims on behalf of clients in over 20 countries around the world. He has a unique background, with experience providing loss accounting services to both insurers and policyholders, and a proven track record in assisting clients with large, complex insurance claims and litigation.

Michael’s litigation experience includes product recalls, lost profits, contractual disputes, third-party damages, and other commercial disputes. He has issued expert reports, provided deposition and trial testimony, and has represented clients in mediation, appraisal, and settlement negotiations.

A sampling of Michael’s project experience includes:

Business Interruption and Property Damage

• Prepared numerous business interruption and property claims resulting from Hurricanes Irma, Harvey, and Maria in 2017 for clients in the healthcare, pharmaceutical, medical products, manufacturing, retail, and hospitality industries.
• Prepared the property damage and loss of rents claim for a real estate holding company and its management company related to a major flood to one of its mixed-use properties on the Potomac River. Significant claims accounting issues included planned rent increases, tenant departures, multi-phase rebuild timelines, computation of saved utilities and associated tenant reimbursements, and cash versus accrual rent payments.

Business Interruption Values and Exposure Analysis

• Prepared the worldwide business interruption values for a pharmaceutical company to assist with its annual insurance renewal process. Analyses included the study of all domestic and international manufacturing and packaging locations for both internal, as well as external third-party manufacturing (TPM) sites. The values were consolidated and displayed by product, by country, and by manufacturing site. Supplemental analyses to help insurers understand the difference between reported and actual business interruption values exposure, and plan for potential loss scenarios.
• Analyzed and developed a ratable business interruption values system for a national provider of private, for-profit postsecondary colleges and universities – education. We created a methodology that provided for the consistent reporting of values at 82 different locations. Our reporting system displayed annual values for each location, a divisional summation and the total for the company.

Builder’s Risk

• Measured and prepared a builder’s risk claim including loss of rents, soft costs, property damage and extra expense (mitigation) related to damage suffered from a loss to the support excavation of 10 story mixed-use building, including apartments, retail, and parking garage. Represented the owners and general contractor. Complicating factors included the length of interruption due to the event and actual loss sustained measurement of the loss of rents.
• Measured and prepared a builder’s risk claim including sue and labor, soft costs, property damage and extra expense (mitigation) related to damage suffered by a tornado to an arena under construction for a pro basketball team. Represented all named insureds, which included the general contractor, various subcontractors, and the owners. Complicating factors included the cost justification of construction practices taken to prevent further damage to the facility, as well as to expedite and mitigate the loss.

Product Recall / Liability

• Measured and prepared major product recall loss for a Fortune 100 food company resulting from a suspected e-coli contamination in one of its product’s ingredients. The recall was initiated in the United States, but also impact international shipments. Damage calculations included product recall expenses (product in the hands of retailers and consumers, communications, freight, disposal, etc.), product restoration expenses, inventory, lost profits and extra expenses.
• Measured and prepared the insurance claim resulting from a worldwide pharmaceutical product recall due to questions regarding the safety and alleged dangerous side effects. As a direct result of the suspension of sales and a significant amount of related negative publicity, sales were impacted in the United States, along with numerous other countries around the world. Damage calculations included product recall expenses (communications, freight, disposal, etc.), product restoration expenses, inventory, loss of gross income and extra expenses.