Daniel T. Torpey, CPA

Daniel Torpey was an Expert Commentator for the IRMI.com business interruption series and also provides articles on brand equity and product recall. His articles represent practical and topical ideas on how a risk manager or insurance professional can better understand the business interruption claims process and the challenges faced with such claims. The series is designed to be used as a reference source for the IRMI.com reader.

Mr. Torpey is a claims professional with more than 16 years experience in complex insurance claims. He is a partner at Ernst & Young, LLP. His practice specializes in helping clients prepare, present, and negotiate major property damage, business interruption, produce recall, fidelity, e-commerce, and other complex insurance claims.

A Certified Public Accountant, Mr. Torpey has extensive audit, tax, and insurance claims consulting experience. He is an instructor for business interruption accounting courses for accountants, risk managers, brokers, and litigation specialists. He has been deposed as an expert witness in state and federal proceedings and has provided expert witness testimony at trial.

Before joining Ernst & Young, Mr. Torpey was a founding partner of a national insurance consulting practice in major U.S. cities. Mr. Torpey has also audited claims with a CPA firm that works for insurance companies, thereby gaining insight into the methods and procedures used to evaluate such submissions. His extensive claims experience in the United States, the Caribbean, South America, and Europe includes calculating business interruption losses in accordance with many U.S. and foreign policy forms. His claims experience spreads across many industries, including manufacturing, petrochemical, oil and gas, distribution, steel, utilities, consumer products, retail, transportation, and hospitality.

A graduate of St. John's University, New York, Mr. Torpey is a member of the American Institute and the New York State Society of Certified Public Accountants, the Society of Insurance Trainers and Educators, and an associate member of the American Institute for Chartered Property and Casualty Underwriters.

Mr. Torpey has been a speaker and facilitator at the Risk and Insurance Managers Society (RIMS) annual conference and at CPCU Society and Contingency Planning conferences. His topics presented include: Practical Solutions to Settling Business Interruption and Property Claims, Contingent Business Interruption Claims, Negotiating Insurance Claims, How Does Arbitration Work?, and Getting The Most From Your Loss. He has also instructed Continuing Legal Education for attorneys on Using Financial Experts in Handling Claims. He has been quoted or interviewed by Business Insurance, CLAIM Magazine, Best's Review: Property and Casualty, CFO Magazine and newspapers. Finally, Mr. Torpey is the author of After a Recall: Preparing an Insurance Claim and other thought leadership publications in complex insurance claims.

Articles on IRMI.com

Commercial Insurance: Business Interruption

The Essential Equation: A Formula for Determining Business Interruption Loss (February 2004)

Breaking the Gridlock of the Property and Business Interruption Claims Process (July 2003)

Contingent Business Interruption: Getting All the Facts (May 2003)

Effective Leadership Throughout the Claims Process (August 2002)

World Trade Center Terrorist Business Interruption (January 2002)

Beyond the Policy: Documenting a Business Interruption Claim (February 2001)

The Professionals Involved in A Business Interruption Claim (June 2000)

Risk Management: Brand Equity and Product Recall

Are You Ready for Total Recall? (November 2000)