RWH Myers is a professional loss accounting firm that specializes in preparing claims for FEMA and commercial insurance matters. Having decades of experience in handling catastrophic property damage claims, RWH Myers has been through the process of assisting organizations with financial recovery in the aftermath of every catastrophic event in recent history. We dedicate our entire practice to assisting those faced with losses as a result of these events.
Our goal is to help prepare your FEMA claim in an expedited manner so that you can get back to business and are reimbursed for your losses as soon as possible. November's Insight explains the process and what you need to know to recover losses from FEMA.
If you have any questions or would like a PDF version, just reply to this email. We are happy to help you!
FEMA Claims - Preparation and Management
When the Federal Government declares a State of Emergency, individuals and organizations in the affected areas can make claims to the Federal Emergency Management Agency (FEMA) for property losses under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. This Act is intended to provide financial aid and services to residents, public entities and Private Nonprofit organizations in the disaster area for losses not covered by insurance, such as deductibles.
Any qualifying entity or individual is allowed one claim per declared disaster, which should include losses from all relevant locations. Only when more than one disaster is declared is a separate filing required. During a declared disaster, any organization that has sustained property damage in the disaster area may be able to recover a portion of their losses from FEMA. It is important to gather information and prepare claims according to both FEMA guidelines and the property policy as the incident unfolds. Insurance companies may involve FEMA experts, aka FEMA adjusters, to help policyholders file a claim with FEMA. Requirements are different and specific for FEMA claims and will be reviewed by a Public Assistance Coordinator (PAC). The Insurance adjusters will work as normal with the property claim made to the insurance company.
RWH Myers’ loss accounting team works for the insured to maximize recovery from your insurers and FEMA claim submissions. We quantify and document the loss for optimal recovery in accordance with both the insurance policy and FEMA guidelines. Knowing how to handle claim preparation during a declared disaster brings order to a chaotic situation by reducing the time, effort and aggravation of a complicated claim process. For both claims, we will work with the assigned adjusters to ensure the claims are properly documented for each type of recovery. The FEMA claim service we provide includes the following:
- FEMA application process
- Accounting methods to capture event related losses
- Allocating expenditures per insurer and FEMA requirements
- Preparation of worksheets including debris removal, code upgrades, emergency protective measures, and permanent and replacement work
- Integration of the insurance settlement amounts into the FEMA recovery formula
Seeking recovery from FEMA requires a unique level of detailed documentation for submission in accordance with FEMA's forms and worksheets. Often times a FEMA claim will continue for years after the first party property claim is settled while the final physical damages are repaired and our client seeks reimbursement for out-of-pocket expenses. Our accounting fees may be included as part of your FEMA claim, just as they are with insurance.With time, patience and the right help it is possible to recover your losses, whether from insurers and/or FEMA.
Let us help you by taking care of your claims, so you can focus on taking care of your organization.