Basis for Economic Loss Recovery   Catastrophic Losses can take many shapes and forms, for example loss due to a fire, loss due to a hurricane or loss due to an environmental disaster, such as the Gulf Oil Spill. Recovery from a catastrophic loss may entail a claim of loss based on a statute such as the Oil Protection Act, legal actions against the alleged negligent party causing the catastrophic loss (i.e., fire or environmental damage), claim of loss against an insurance policy (assuming relevant coverage), all of the above, or a combination of all of the above. In any event, Catastrophic Losses usually involve complex litigation requiring a close collaboration between the damages expert and the claimant's legal counsel. This is critical to the success of a particular claim, since the calculation of damages performed by the damages expert must clearly state the basis for the amount of damages, utilizing reliable methodologies supporting the legal remedies pursued by the Claimant in the case.  In many instances, the calculation of economic losses arising from a catastrophic event may entail a combination of legal actions based on grounds such as: 1) Recovery of any removal costs incurred - such as cost of salvaging operations, oil spill removal costs, etc 2) Economic Damages resulting from the destruction of real or personal property 3) A Loss of Profits or a diminution of earnings capacity due to the injury or loss of property - real or personal 4) Damages for loss of use of natural resources suffered by a claimant who uses those natural resources  Our staff stands ready to work closely with our client's legal counsel.  To find out how we can help you, email us, inquiry@valfor.net  or call us at (800) 959-6122