Crawford & Company (Canada) has launched an online simple loss calculator that can help manage business interruption losses.

The tool was rolled out as an enhancement to the claims management solutions developer’s Crawford Forensic Accounting Service offering.

A release said that the tool, by design, is geared towards retail and wholesale business interruption claims where the loss duration is 14 days or less.

“As a claims and risk management firm we are committed to simplifying and expediting the claims cycle by developing and investing in innovative technology and tools, and leveraging appropriate experts,” explained Crawford & Company (Canada) vice-president of Global Technical Services (GTS) Canada Paul Hancock.

“This tool was designed to assist our clients and the marketplace in determining the initial extent of a business interruption loss, set reserves, and map out an appropriate course of action,” Hancock added.

The calculator consists of a five-step process. Prompts guide users through each step to ensure that all the necessary information required for calculation is inputted.

“Crawford’s mission is to restore and enhance lives, businesses and communities,” commented Crawford & Company (Canada) president and CEO Pat Van Bakel. “This calculator helps to accelerate the claims process, helping businesses to recover and return to normal business operations quickly.”