RESOLVE Forensic’s seasoned experts have deep experience preparing and settling business interruption claims up to billions of dollars, analysing liability insurance claims, and providing critical insights into Directors’ and Officers’ claims.
We act for insured businesses to prepare and settle their claims for business interruption and property damage losses following an insured event.
We have prepared and settled hundreds of liability, property and business interruption claims for clients in Australia and around the world, ranging in size and complexity from small private businesses to public companies with losses in the billions.
Having the right business interruption insurance is vital to protecting your business’s cash flow and balance sheet following damage from an insured event. Business insurance policies can be complex and confusing. The work required to calculate declared values and limits of liability can be onerous. Our experts will critically assess your business insurance program and coverage and prepare tailored comprehensive calculations to enable you to make informed choices on the cover you select for your insurable business risks.
Ensure Your Business Interruption Claims are Done Correctly
When preparing a business interruption claim, there are three key elements that need to be addressed in your claim submission:
- A thorough understanding of the terms of your insurance policy and the event causing damage giving rise to your claim for loss.
- Quantifying the loss in accordance with the policy basis of settlement with appropriate loss quantification methodologies.
- Presenting supporting evidence and the financial information of the business to the insurer in an appropriate format.
Our experts can assist you with preparing claims for property damage and business interruption to maximise your recovery under your insurance policies. For complex matters, we are able to prepare timely and comprehensive interim claims for regular progress payments.
We address the quantification elements of liability insurance claims. As an independent expert, we can act for either the insured, insurer or an at-fault third party. Alternatively, we can assist in the event of a dispute as an independent expert, giving an expert opinion on accounting, valuation or financial issues critical to the matter.
New York World Trade Center insurance claim dispute
Whilst at a Big Four accounting firm our Managing Principal, Hugo Loneragan, led the team engaged by lawyers for the owners of the World Trade Center to critique the business interruption financial models and expert reports served by insurers. Hugo and his team applied expertise in business interruption theory and modelling to dissect the assumptions and mechanics of the other experts’ reports and advise our client on quantum, technical strengths and weaknesses and litigation strategy.