Overview –
Joe is a Managing Director with The Claro Group located in Chicago. He was a founding member of the firm and is part of the firm’s Dispute, Claims and Investigations practice with over 15 years of experience in litigation support, forensic accounting, expert testimony and complex claims consulting.
Joe has extensive experience analyzing complex financial and economic issues related to commercial disputes and transactions. Joe has assisted clients and their counsel with business interruption calculations, forensic accounting, damages quantification, insurance allocation modeling, claim estimations, decision modeling, valuing distressed assets and developing negotiation/settlement strategies. Over the last 5 years, Joe has helped clients recover in excess of $500 million in property damage, business interruption and bodily injury losses for various insurance companies.
Joe’s clients include leading public and private corporations and many Fortune 500 companies in a diverse range of industries, including oil and gas, energy generation and distribution, mining, chemical, paints and coatings and manufacturing working directly with executive level employees, internal and external counsel, auditors, brokers and outside stakeholders.
Experience +Retained by an oil and gas pipeline company after a major release of crude oil in Michigan. Performed a coverage analysis, prepared a claim presentation and developed a settlement strategy that led to the successful settlement of six layers of coverage with multiple insurance companies for full policy limits. Then prepared an expert report and supported the testifying expert in a London arbitration over a dispute related to the last layer of coverage.
Engaged by an integrated oil and gas company after it was sued by several states alleging that it double recovered environmental remediation costs from its insurers and state funds. Assisted a testifying expert in the analysis and preparation of expert reports.
Assisted an energy transmission company that operated an underwater energy transmission cable that was damaged by a third party shipping liner. Assisted the client with claim preparation, invoice review and direct negotiations with the insurance adjuster.
Retained by a Fortune 500 chemical company to negotiate a resolution of its historical insurance coverage for product liability claims. Performed future liability forecasting, insurance allocation modeling and created detailed probabilistic and decision tree modeling to determine the effect of various claim, coverage and legal issues on overall recovery. Also assisted company in analyzing its claims handling, data capture and reporting processes in order to develop and implement process and technology improvements.
Assisted a valve manufacturer with a negotiation with multiple insurer parties over the resolution of its historical insurance assets for past and future liabilities related to asbestos. Assisted the client with claim preparation, direct negotiations with insurers, preparing an expected value analysis of the insurance asset and strategy for working with other related stakeholders.
Retained by an energy generation company after two gas turbines malfunctioned and had to be shut down. Assisted the client with claim preparation, invoice review and direct negotiations with the insurance adjuster.
Assisted a midstream natural gas services company with a property damage and business interruption loss related to a fire at a processing facility. Assisted the client in quantifying the business interruption claim, presenting its claim to insurers and developing a negotiation strategy for the claim.
B.S., Finance and Operations Management, Indiana University, 2004
M.B.A., Accounting, Economics, Finance and Managerial and Organizational Behavior, University of Chicago Booth School of Business, 2013
