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Experiences
Our experience spans 25 years so, obviously, we have a lot to talk about.  Our successes are many and varied.  It has been our pleasure to assist businesses through the BI process, helping them recover quickly, wholly and confidently.  We'd like to share a few of their stories with you.

"Since 2005, RWH Myers has managed and processed our hurricane-related property damage claims in a professional, thorough and efficient manner. Their data collection and storage methods have greatly increased our ability to settle claims early in many cases. In addition, their positive interaction with our Associates and our insurers helps us to continue building trust and loyalty every day in this very important area of our business."

Dale Bitter

Winn-Dixie Stores, Inc.

Domestic Energy Corporation

Bill Myers

Back to back incidents hit a large domestic energy corporation in 2005. They lost an oil refinery during Hurricane Rita and suffered a separate loss resulting from a process fire. Working with our client, we documented, analyzed, and prepared property and extra expense claims in excess of $50 million as a result of Hurricane Rita. We also prepared a separate business interruption and extra expense claim in excess of $350 million for damages resulting from the fire. Partnering with underwriters, consultants and adjusters we were able to refine material differences related to market-pricing impacts, opportunity maintenance credits, linear programming model adjustments, and valuing mitigation expenses.

 

Hotel and Casino Company

Bill Myers and Glenn Rand

When Hurricane Katrina ravaged a casino and resort, our team quickly documented, analyzed, prepared and presented property damage, business interruption and several unique extra expense claims. The loss involved damage to the casino, hotel, multiple restaurants, bars and retail stores, spa, theatre, marina and a golf course. We worked daily with the adjusters and construction consultants hired by underwriters, as well as with the client's reconstruction team and in-house risk management professionals. Bill Myers and Glenn Rand provided valuable information used in preparing the settlement strategy and claims negotiations in London, New York and Bermuda, which ultimately resulted in an insurance recovery of several hundred million dollars.

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Global Energy Company

Bill Myers and Sharon Pisko Wolfe

This repeat client has utilized our loss accounting services for twenty years to calculate more than two hundred million dollars in insurance claims. We have calculated first party property and third party liability claims from pipeline ruptures to natural disasters to equipment failures to explosions in the US and Venezuela. Our accounting work provides risk management with the loss quantification needed to help settle their insurance claims. Most recently, we have been engaged on the following assignments:

In 2005, Hurricane Rita caused extensive physical damage to a gas processing plant. Our accounting services included calculating the business interruption loss of their lost natural gas processing revenues and lost natural gas liquids margin.

In 2005, Hurricane Katrina caused contingent business interruption losses to an ethylene production facility in Geismar, Louisiana. We calculated the business interruption and extra expense claims resulting from this storm including lost olefins margin for ethylene, propylene, butadiene and DAC, lost tariff revenues, lost marketing fees and commissions and excess costs to purchase ethylene from alternative sources.

In November 2007, a cooling tower fire at a natural gas processing plant affected operations throughout three natural gas gathering systems, two treating plants and three liquid extraction processing plants. Our business interruption loss calculation included lost natural gas liquids (ethane, propane, butanes and natural gasoline) margin from the plant and the mitigated margins from the surrounding facilities, as well as the effect on gathering and processing operations.

 

Global Chemical Company

Sharon Pisko Wolfe, Bill Myers and Bill Warren

For this prestigious global company, we prepared claims for property losses from 1998 through 2004 including business interruption claims in excess of four hundred million dollars throughout US and European locations. From warehouse fires, to chemical leaks and explosions, our services were retained for all of its claim preparation needs. We created plant diagrams showing the flow of raw materials to finished products for each polycarbonate plant. The client used our diagrams for training purposes for years after the claims were settled. Noteworthy recent claim activity includes the following:

In September 2003, a catastrophic explosion occurred at a polyimide thermoplastic resins building in Indiana during a planned annual maintenance shutdown. We consulted with the client from day one to assist in documenting the property damage, business interruption and extra expense losses that exceed $125 million. Our work consisted of calculating lost production and sales of various finished products, documenting an actual loss sustained for these products, compiling all property damage related costs including analysis and distribution of over 8,000 documents, calculating excess costs of mitigation efforts from externally purchased and tolled materials at alternative sources including the extra cost of constructing an alternative manufacturing site. Variable cost calculations included the conversion from raw material to finished monomer for the plant and external suppliers in the US and India.

In May 2004, a fire occurred at the chlorine and caustic soda plant and then in August 2004, the same plant experienced an explosion. Our client engaged us to prepare the property damage, business interruption and extra expense claims. The business interruption calculations included the affect of the two events on the five major manufacturing operations necessary to produce polycarbonate resin including inefficient material usage, lost sales of intermediate products to outside markets, the consumption of commodity driven raw materials, and joint venture operations and contracts in place throughout the manufacturing process.

 

Plastics Company

Bill Warren and Bill Myers

A polyvinyl chloride plant suffered a devastating explosion and fire that closed the facility for years. While business interruption coverage had not been purchased for this facility, we were engaged to prepare the extra expense, property damage, pollution and liability claims. The extra expense losses required an evaluation of the variable production cost to determine the incremental cost to purchase resin. Production costs included confidential recipe mix information that we managed by including as much detail in claim filings as possible without divulging proprietary information. Additional details required by insurers to confirm production costs were handled with on-site inspections that met insurers needs while keeping proprietary information out of disseminated work product. Our efforts facilitated this review and, barring coverage differences, led to an insurer valuation that did not significantly vary from the claim.

 

Grocery Stores Chain

Bill Warren and Glenn Rand

After 2004 hurricanes Charlie, Frances, Jeanne and Ivan, the partners of RWH Myers were engaged when the claim preparation and response from insurers went sour. Upon our engagement we evaluated the strengths and weaknesses of the current claim, quantified the components of loss that had yet to be identified, and managed the insurer's audit to facilitate a successful settlement within three months.

As a result of our successful efforts on the prior year's claims, we were immediately engaged once the 2005 aggregate deductible was met by Hurricane Katrina. RWH Myers leveraged their technological expertise to manage large data sets for over 300 locations, which in some cases were subject to multiple occurrences. By employing in-house automation tools to analyze financial data for all locations, sizable claims were submitted on nearly a bi-weekly basis to facilitate advance payments before insurers were bogged-down with thousands of claims for Hurricanes Katrina and Rita. The volume of location specific data and the consistency and accuracy of the streamlined analysis resulted in insurer's auditors proposing only minor adjustments to the claim calculations.

 

Global Pulp and Paper Company

Bill Warren

For many years the partners of RWH Myers have been routinely engaged by this company to calculate their business interruption and extra expense claims. A recent example was a recovery boiler explosion at one of their mills. RWH Myers was engaged to begin preparing monthly claim submissions to facilitate advance payments. With a good team in place for both the client and the insurer, fostering cooperation, mutual respect and sound communication, we set an aggressive timetable for claim filings and insurer review. As a result, the client received substantial monthly advance payments and settled the loss prior to fiscal year-end.

 

Oil Refinery

Sharon Pisko Wolfe

A pipeline rupture caused contingent business interruption and contingent extra expense losses at this refinery during a twenty-month loss period. We prepared the first party property insurance claim and provided accounting expertise during the ensuing legal proceedings and arbitration hearings. Claim complexities included a refinery capacity expansion project completed immediately before the loss, potential “make-up” production at another refinery, possible increased product margin realized on the west coast, environmental projects interrupted by the loss, valuation of intermediate inventories during an extended downtime, as well as accounting for hundreds of alternative product movements via land and marine. Our work included extensive reconciliations used during negotiations with multiple insurers in the US and London, which ultimately resulted in a multi-hundred million-dollar recovery for our client.

 

Domestic Chemical Company

Chris Hess

Our team of professionals prepared and resolved property and business interruption losses arising from damage to a liquid hydrogen plant resulting from Hurricane Katrina. This high-profile loss required extremely tight reporting to the insurance companies to keep up with the aggressive recovery effort. We implemented an interim claim filing strategy that facilitated and expedited the review of claimed losses by adjusters, as well as accounting and engineering experts. This strategy resulted in a final settlement approaching $100 million of all claims only one year after the date of loss. Our work on the Katrina claim has led to additional assignments from this client.

 

Domestic Chemical Company

Chris Hess

We prepared and helped resolve inventory, property damage and business interruption losses arising from catastrophic damage to this company's fertilizer plant as a result of Hurrican Katrina. We facilitated communication with all levels of management and the adjusters, accounting, and engineering experts throughout the 18-month process. Our claim strategy resulted in consistent and substantial advance payments. The success of this strategy was critical for this fledgling company, which had only been in existence for six months prior to this loss.