Cost Recovery
We’ll help you to receive the reimbursement you deserve for environmental remediation cleanup costs.
Find Your Policy
Cost Recovery
Our cost recovery services are designed for clients seeking reimbursement for environmental remediation costs. Through a meticulous research process, we uncover historical insurance policies and evidence of coverage at the time of pollution, providing the essential materials you need to begin the insurance recovery process and maximize your cost coverage.
Cost Recovery is heavily dependent upon the site history and impacts.
What Cost Recovery
Involves
We begin by evaluating your situation to ensure cost recovery is a viable option based on your location or the incorrect denial of past claims.
Our forensic accounting team works with you to complete a full recreation of past cleanup costs.
We then organize recoverable costs into defense and indemnity ‘buckets’ while removing non-recoverable items from your claim.
Next, we package your costs for presentation according to the carrier(s) requirements.
Once your coverage attorney has submitted the claim, Restorical will support the entire process to ensure insurance company requests are met in a timely manner so you can recover your costs as quickly as possible.
Cost Recovery Case Studies
Frequently Asked Questions
Restorical has developed a proven process for gathering all of the necessary information, to tender good faith claims for Cost Recovery. Additionally, our in-house forensic accounting team is adept at proving up damages from cleanups that occurred 10 or 20 years ago.
Yes, we have helped hundreds of client Recover their past cleanup costs in specific states.
Prior to being hired, our experts will have a Discovery call to determine if Cost Recovery is viable, at no charge. This is usually done over the phone and takes less than 30 minutes. If we believe we can help, we will let you know.
Yes, we have helped many clients obtain coverage after being previously denied.
Forensic Accounting is necessary to ‘prove’ the damages to the insurance carriers. These past costs are the damages and they need to be documented. For many projects, where the cleanup happened years or decades earlier, Clients no longer have the paperwork to substantiate the damages. This is where our team of in-house forensic accountants thrive. Proving up damages so that the insurance claim is successful.
With 20+ years of experience, assisting our policyholder clientele, we understand which costs are the carriers responsibility and which are not. This is usually based off of the environmental issues of the specific project, the legal framework of the cleanup and the policy language in these 40+/- year old contracts.
Once we have re-created the past cleanup costs, our team of in-house Forensic Accountants get to work transforming this data into a the basis for a good faith claim.
We set out to segregate these costs by defense and indemnity as well as vendor and actions.
Then, we will organize all of these costs in the manner we know the specific carriers want to receive the files. All of the costs and back up are made available for the insurance coverage attorney to transmit to the carriers.
Restorical begins tracking everything from the moment of submission and we keep our policyholders team on schedule. Notifying attorneys about critical dates and keeping the carriers on their toes – being the squeaky wheel and demanding that they live up to their end of the policy.
When the carrier has questions or requests for clarifications, Restorical works to address these immediately to keep the pressure on the carriers.
Each project is different and the timeline is dependent upon specific factors, such as: Cleanup type, policy language, jurisdiction. That being said, the typical project can expect to receive their Recovery of past cleanup costs within 7 months of tendering the claim.
Years in Business
Allows us to be the leading insurance archaeology and claims management firm in the country
Million Recovered
We uncover hidden assets for our clients, and we excel at obtaining coverage for their environmental liabilities
Policyholder Clients Served
We only work for policyholders and property owners and do not offer our services to insurance companies
Historical Policy Database
Restorical has been collecting, analyzing, and cataloging historical insurance policies spanning the 1950s-1990s.
Our proprietary database with carrier-specific detail is leveraged for our clients on a daily basis
