Businesses today operate in an increasingly dynamic, complex and interconnected world. Because of this, the insurance claim process can be lengthy and fraught with complications if it is not handled correctly.
Our highly qualified certified public accountants, chartered accountants, forensic accountants, certified fraud examiners, project managers, and engineering and construction consultants provide technical solutions for both pre-event and post- event claim needs. We’re uniquely suited to help you design and implement solutions that will strengthen your organization and maximize recovery within the parameters defined your policy.
FACC Solutions
Pre-Loss Services
We understand that the client has requested background on FACC’s experience quantifying insurance values/limits/deductibles. FACC can assist in developing a pre-loss plan that includes the calculation of Property Values, Business Interruption Values and Contingent Business Interruption Values.
Accurately measuring and presenting insured values is a critical part of pre-loss planning and improves not only the post-loss process but will also assist in making the renewal process more manageable. Accurate values can be critical to making informed decisions pertaining to the appropriate levels of coverage required and in identifying where a company should apply its resources in disaster recovery and business continuity planning.
FACC can assist with pre-event planning that will:
- Expedite the loss measurement process.
- Allow for significant and immediate support post loss.
- Allow the client to focus on core business and resuming operations after an event.
- Establish procedures to best deal with suppliers/customers affected by the event.
- Establish processes and procedures to track data that is required after an event, including set-up of temporary general ledger accounts to track all loss related costs.
- Establish a claims team and put agreements in place, eliminating the post loss hiring and vetting process as well as limiting learning curves.
- Develop a post loss claim management plan to ensure preliminary information required is easily accessible and provided in a consistent format.
- Allow the client and FACC to respond immediately once a loss occurs.
Post-Loss Preparation Services
FACC post loss services include the calculation of Complex Insurance Claims, Business Interruption Claims, Contingent Business Interruptions Claims, Supply Chain Claims, Builders Risk Claims, Product Recall Claims, Commercial Damage/ Business Disputes, Property Damage and Content Claims, Stock Losses, Research and Development Claims, Third and First Party Liability Claims, and Cyber and Fidelity/Bond/Crime Claims.
The Forensic Accounting & Complex Claims team at WTW is among the industry’s best in providing claim preparation and quantification services to large multi-national clients. The senior leaders of the FACC team have worked on some of the most challenging and complex insurance claims resulting from some of the world’s largest catastrophes and disasters. The team will strive to simplify processes, create loss management plans and timelines, and be a proactive leader by working with the client to lead and drive each claim to its ultimate conclusion.
Our senior leadership team of experts have worked for and trained insurance company adjusters, which allows FACC to understand the insurance claim process. We understand what information is required to support insurance claims and often know beforehand where challenges will be made by the carrier’s financial experts.
FACC has the capability to assist in evaluating economic damage claims relating to:
- Builders risk claims
- Business interruption value & exposure analysis
- Construction claims
- Contingent business interruption claims
- Cyber claims
- Environmental claims
- FEMA requests for public assistance
- Fidelity/bond/crime claims
- Fixed asset valuation
- Litigation services
- Product/general liability claims
- Product recall claims
- Property damage & time element claims
- Stock losses
- Subcontractor default claims
Downloads
Title | File Type | File Size |
---|---|---|
Forensic Accounting and Complex Claims (FACC) All Services | .2 MB | |
Forensic Accounting & Complex Claims (FACC) Practice | .7 MB | |
Construction Consulting | 1.3 MB | |
Property Damage Claims | .6 MB | |
Total Insured Values | .9 MB | |
Insurance Valuation Services | .9 MB | |
Cyber Claims | .9 MB | |
Product Recall | .6 MB | |
Federal Emergency Management Agency (FEMA) Public Assistance | .9 MB | |
Representation and Warranty | .5 MB |