Quantifying Damages for Insurance Recovery – C02

Business Law Track
Insurance Law Section 

Session C: 2:15 p.m. – 3:45 p.m.

Learn about the computation of lost profits, property damage, and extra expenses, as well as the process by which policyholders may find coverage under one or more insurance policies (i.e. property, business interruption, contingent business interruption, crime/fidelity, general liability, construction, cyber, E&O, and D&O).  

You will learn: 

  • Methodologies to evaluate, quantify, and support financial damages 
  • About insurance policies that may provide additional recovery under various scenarios 


Karen Cusato, Cusato Consulting LLC, Westport 

Attorney Cusato, CPA, CFE is an experienced forensic accountant with over 20 years of practice specializing in insurance claims, fraud investigations and litigation support. Prior to founding Cusato Consulting, LLC in 2008, Ms. Cusato was in senior management at large international consulting firms, including the Business Insurance Consulting practice at Deloitte and the Forensic Accounting and Litigation Support practice at FTI Consulting. Ms. Cusato has testified as an expert witness on financial damages and liability issues, and has participated in mediation and arbitration cases. She has been retained on behalf of clients in a wide variety of industries in the U.S. and abroad, ranging from Global Fortune 500 companies to start-ups and individuals. She has worked on domestic and international engagements in North America, Central America, South America, the Caribbean, Europe, Asia and Africa. Ms. Cusato has prepared, managed and negotiated large complex insurance claims for hundreds of clients sustaining losses under business interruption, property damage, extra expense, fidelity, liability and other policies. She has provided consulting services and prepared expert reports on litigation matters including bankruptcy, breach of fiduciary duty, class action, construction, contract disputes, employee termination, insurance claims, intellectual property, liquidating damages, personal injury, product liability, professional liability, securities and valuations. As a Certified Fraud Examiner, Ms. Cusato has worked on fraud and fidelity cases involving accounting malpractice, compliance, credit card fraud, directors and officers claims, employee embezzlement, government investigations, international money laundering and Ponzi schemes. As a Certified Public Accountant, she has planned, performed and supervised financial statement audits for both SEC registrants and private entities. Ms. Cusato also has prior experience working in the private sector leading the professional services team at a global computer software company.

Ms. Cusato holds a Bachelors of Science degree in Business Administration from the Haas School of Business at the University of California at Berkeley, and completed the Intensive Accounting Program at the Leventhal Graduate School of Accounting at the University of Southern California. She participates in professional organizations, including the American Bar Association, American Institute of Certified Public Accountants, Association of Certified Fraud Examiners, International Risk Management Institute, Risk and Insurance Management Society and University Risk Management and Insurance Association. Ms. Cusato is currently serving on the Insurance Law Executive Committee of the Connecticut Bar Association. Ms. Cusato is a frequent public speaker, and has spoken at company and industry conferences in the U.S. and abroad on various topics including business income values and exposures, insurance claims, catastrophic loss recovery, e-commerce, fraud & fidelity losses, environmental claims, supply-chain risk and the economy. Ms. Cusato is also an active community volunteer, assisting non-profits including the Alzheimer’s Association and CancerCare.


Melissa Federico, Murtha Cullina LLP, Hartford 

Attorney Federico is a trial attorney practicing in the areas of commercial litigation and insurance coverage and recovery. She has litigated and advised clients in complex commercial disputes, including breach of contract, unfair trade practice claims, violations of the Lanham Act, shareholder disputes, and other various business tort cases. She counsels policyholders to obtain insurance coverage under a wide array of insurance products including general liability, D&O, excess and umbrella and reinsurance. She has also counseled corporate risk managers regarding their insurance portfolios. She has tried cases in both federal and state courts, and has represented clients in arbitration and mediation.




Mark A. Riley, Conway Stoughton LLC, West Hartford 

Attorney Riley is a Principal at Conway Stoughton LLC in West Hartford, CT. His practice focuses primarily on civil litigation, including premises liability, property damage, professional malpractice, uninsured/underinsured motorist claims, products liability and breach of contract. He has also handled numerous probate and estate planning matters. Attorney Riley has been named as a Connecticut Super Lawyer®: Rising Stars: Civil Litigation Defense, 2012, 2014 – 2016. In addition, he is currently serving as a Presidential Fellow for the Connecticut Bar Association (2015-2016) and as a member of the Executive Committee for the CBA’s Insurance Law Section.








CLE Credit: 1.5 Hours (Skills)