The Client and Its Challenge
A glass manufacturer in France faced a multi-million dollar loss resulting from a massive flood. The manufacturer needed assistance in calculating the loss and preparing the claim. Though losses of this magnitude can take close to two years to settle, the manufacturer established an ambitious deadline of settling the claim approximately one year after the loss and sought outside expertise to help meet its objective.

The Risk Consulting Solution
The client retained Marsh's Forensic Accounting and Claims Services (FACS) to execute the overall claims process and settle the claim by the one-year deadline.

Initially the FACS team calculated the property damage, extra-expense losses, and business-interruption costs. In addition to analyzing the economic damages, FACS consultants served as the client's claims advocate throughout the settlement process, working closely with the insurer, presenting analyses clearly to ensure a fair settlement, and quickly resolving any disputed points to expedite the claims procedure.

The FACS consultants provided additional resources to assist the client with on-site project management, making frequent trips to the manufacturing plant in France. By working efficiently and providing accurate analyses, the FACS team met every deadline throughout the claims process, including the one-year settlement objective.

Results
With the effective work of the FACS team and the consultants' direct involvement in every step of the claims process, the client received a $49.6 million settlement, which included several cash-advance payments. Moreover, the client received the final installment of the settlement four weeks before the final deadline.

Pleased with the outcome and timeliness of the settlement, the client pledged to retain Marsh's FACS team again, should it face another loss in the future.