MBA Loss Management - How To Document

MBA Loss Management Professionals

MBA Loss Management Professionals


	MBA Network Site Index
	Home
	About Us
	Products/Services
	Find Resources
	Log In/Register
	Contact Us
	Links
	Contract Login

Loss Management - How To Document

The Purpose:

	Accurate records of the cost is the only way to control the project.
	Without cost controls the Time and Material Contract is designed to extract the maximum amount of money possible.
	Hold vendors accountable for the charges they present.

Before the loss:

	Who is qualified/available to perform the work?
	Get an unbiased Emergency Work Authorization in the hands of the insured.
	Get a qualified Scope of Work from MBA so that all the bids are comparable.
	"Time & Material: Adjusting the Terms"- from Best's Review.
	Use the Essential Emergency Response Checklist

During the loss:

	Use the RiskRecovery General Data Collection Standard to monitor costs.
	Get daily updates on line to monitor budget to actual cost, job progress and the declining balance budget.
	Communicate daily updates to the insured and vendors.
	Use the MBA Project Portal to involve all participants.
	Use the MBA disaster resource links and MBA to get assistance with unique or extraordinary problems.

After the loss:

	Get a complete detailed review of all invoices from vendors.
	Validate all invoices and costs presented by vendors.
	Get a Certification of Charges for all vendor invoices.
	Use the MBA Disaster Documentation Kit to record the details of your loss.

MBA Loss Management Professionals

MBA Loss Management Professionals

MBA Loss Management Professionals