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| Do you know how to recover from a catastrophic event? |
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Even the best planning cannot anticipate all of the contingencies an organization faces in the wake of a catastrophic event. Restoring operations and ensuring that the business is up and running as quickly as possible is of paramount importance. And obtaining assistance from your insurers and fully recovering losses can be critical to the future of your organization. In such times of crisis, you need professionals on whom you can rely to assist you in quantifying your losses and presenting your insurance claims.
What Will You Say When They Ask What Happened?
To determine whether your organization has the appropriate resources to recover from losses quickly and efficiently, ask yourself the following questions:
- Do we understand that the failure to promptly document losses can limit recovery later?
- Have we already established the necessary accounting and technical protocols to measure and track the extent of our losses?
- Can we recover lost revenues and other expenses resulting from the event?
- Have we accounted for direct and contingent losses?
- How can I present my claims to help ensure the maximum recovery from insurers and third parties?
Who's Looking Out for You?
Our Claims Accounting and Preparation Services (CAPS) practice is comprised of certified public accountants and forensic accountants, as well as insurance coverage consultants, engineers, architects, and project managers, who deliver world-class insurance claim preparation and advisory services. They can assist in insurance loss measurement, accounting, and claim preparation. They are routinely engaged by leading companies to handle large and complex losses, such as those resulting from the World Trade Center disaster.
Our senior practitioners have spent the majority of their careers in this very specialized field and have extensive experience in insurance loss accounting, valuation, and insurance policy formats and requirements. CAPS's clients also have access to Marsh's extensive capabilities in insurance coverage issues and claims advocacy. Marsh does not provide financial statement audits or attest services. Accordingly, the Sarbanes-Oxley auditor independence rules do not apply to CAPS's services.
Post-Loss Measurement and Claim Preparation Services
We have deep experience in post loss measurement and claim preparation for all types of losses, including:
- Business interruption/contingent business interruption/extra expense
- Property damage and contents
- Service interruption
- Product recall
- Stock losses
- Fidelity claims
- Environmental issues
- Casualty and liability claims
- Builders' risk claims
- Subrogation claims
Within 24 to 48 hours, our professionals can be anywhere in the world to assist with your crisis. We can provide the claim leadership required to mitigate your loss — helping to ensure that solid procedures are in place to help secure your full financial recovery. Our reputation for integrity with insurance providers and familiarity with the adjustment process provide a distinct advantage to our clients — both in terms of reducing time for receipt of settlement and overall service quality.
Pre-Loss Valuation Services
Our extensive experience in measuring and accounting for losses on a "pre-loss" basis can help you in property valuation and estimating the potential impact of business interruption prior to purchasing insurance. And our ability to calculate time element and property values can assist you in meeting today’s detailed underwriting requirements.
Our pre-loss valuation services include:
- Business interruption/ contingent business interruption values
- Extra expense valuation
- Stock values/finished goods calculated at selling price
- Property values/replacement cost valuation
- Anticipated maximum business interruption loss (AMBIL) calculations
Claims-Related Services
We provide additional services and expertise to aid in recovering from significant business disruptions, including:
- Insurance coverage issues and advice
- Construction claims expertise
- Clerk of the works
- Engineering services
- Project management consulting
If you have any questions or would like additional information, please contact us.
Kroll, a subsidiary of Marsh & McLennan Companies, offers services that complement Risk Consulting's. Learn about Kroll's
insurance claims quantification capabilities.
If you are seeking information about insurance and related services, please visit marsh.com.
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