In order to get a precise claims adjustment, a winery has to first engage an insurance adjustor with extensive industry experience in winery losses.
Coral Gables, FL (PRWEB) September 09, 2014
Winemakers in Napa Valley must respond quickly to the financial challenges caused by the earthquake that recently rocked the renowned winemaking region.
Wineries that carried earthquake endorsements on the business interruption portion of their insurance policy have to move quickly to get the most accurate claims adjustment. “In order to get a precise claims adjustment, a winery has to first engage an insurance adjustor with extensive industry experience in winery losses,” said Thomas Garland, Manager at Appelrouth, Farah & Co. with extensive winery loss experience. “Understanding the complete winemaking process from harvest to crushing, to fermentation, to draining and pressing, to aging, and finally to bottling is a very detailed endeavor that requires understanding of production, yields, and varietal allocations,” added Mr. Garland.
Smaller wineries often gamble and choose not to obtain earthquake endorsements because they are cost prohibitive. The silver lining for these smaller wineries is the fact that the harvest season is just beginning. Wines need stillness to age properly, but the earthquake changed this process. Many wines that were originally destined to become Premium and Ultra-Premium wines with high margins may now need to be repurposed as lower margin table wine.
“Appelrouth Farah & Co. has extensive industry experience having been involved in losses that stemmed from the February 2010 earthquake that riddled the winemaking region of Chile,” said Stewart Appelrouth, Co-Founder of Appelrouth Farah & Co. “From business interruption as a result of the damages, to the loss of attraction as a result of cancelled wine tours, hotel stays and bookings, our team will work closely with adjustors by offering resources to accurately quantify and reasonably estimate the losses suffered. We will help the winery get back to where it would have been before the earthquake,” added Mr. Appelrouth.
Wine losses are complex, yet with the help of an experienced team, a winery can get back to the art of winemaking and delivering a premium product to oenophiles worldwide. For information on how to successfully mitigate wine losses, contact Stewart Appelrouth or Thomas Garland at 1-877-446-0999.
Appelrouth Farah & Co. is a full service accounting and international business advisory firm specializing in auditing, domestic and international taxation, litigation support, forensic accounting, fraud examination, business valuation and family office. Stewart L. Appelrouth and Carlos M. Farah founded the firm in 1985. The firm’s partners and professionals have experience in many areas of accounting and tax typically found only in national accounting firms.