Losses can result from a variety of events or interruptions, such as fires, storms, machinery breakdowns, power outages, natural disasters, contractual disputes, and product recalls.
Quantifying the full financial impact of an event is a specialised field. To add to this challenge, documenting and negotiating claims with third parties, including insurers, often demands time from business leaders and other important staff, when physical recovery and mitigation are critical.
The Forensic Accounting and Claims Services (FACS) Practice has a global team of professionals ready to provide you with pro-active, hands-on support through a wide range of expert services. These services are designed to help you identify and quantify income exposures, and maximise the value of premium coverage before a loss, and quantify, support, and recover losses in the aftermath — enabling you to stay focused on your employees, operations, and customers.
The result? We will assist you to ensure losses — actual or potential — are quantified accurately and not underestimated.
Pre Loss Business Interruption
Our team can help you prepare for unforeseen incidents or crises, potentially avoiding lost profit and protecting cash flow. Our services can help you guard against damage, protect your stakeholders, and even gain competitive advantage should the unexpected occur.
We can prepare business interruption calculations to help you understand and assess the risks, identify appropriate levels of coverage, support the insurance placement process, help avoid unnecessary premiums, and maximise financial stability.
The wider organisation and your relevant legal advisers may also benefit from understanding the potential financial implications and exposures arising from certain contract terms, or in the event of a breach of contract by either party, we can conduct contract reviews on your behalf.
Marsh can also assist with project performance reviews, construction auditing and project review processes. By providing the tools and data needed to minimise unscheduled delays and cost overruns, we can help you keep a project on track.
Post Loss Business Interruption Claims
The management of large losses following a disruptive event or dispute can be extremely complex. We can provide comprehensive support throughout most of the world to guide you through the key aspects of post event management. This support can include:
- Loss quantification and claim preparation — swift delivery of assistance to help secure cash flow, assist mitigation strategies, quantify losses, as well as present and settle insurance claims.
- Claims project management and claims engineering — assistance with the claims process to enable you to concentrate on ongoing business matters while helping you to maximise a fair and reasonable recovery.
- Fidelity and liability claims support — assistance with preserving and recovering evidence and interviewing employees to measure economic damages, helping to increase the likelihood of a full insurance recovery while minimising investigative costs.
- Dispute advisory — assistance with dispute resolution, expert witness testimony, and litigation support throughout the dispute resolution process to help you resolve issues in an expeditious and cost-effective manner.
- Uninsured loss recovery — assistance in pursuit of recovery rights against responsible third parties for uninsured property, financial and marine claims.
The effects of a major financial incident such as employee theft, embezzlement, and fraud, can be substantial to your company’s reputation, finances, operations, and overall success. Obtaining assistance from your insurers and achieving maximum financial recovery of your losses may be important — perhaps crucial — to the future of your organisation.
Our financial crime specialists are located around the globe, led by experienced chartered accountants who have conducted investigations into sophisticated frauds at an international level. Mobile and highly qualified, with extensive experience in matters of employee theft, fraud, and third-party claims across geographies and industries, our team is in a position to respond quickly.
We will assist you in identifying potential areas of fraud, quantifying your losses, and accurately presenting your insurance claims and claims against responsible third parties so that you can resume business as usual in a timely manner.
Business Interruption Centre of Excellence (BICoE)
Marsh’s BICoE is a global practice that works with our colleagues and clients around the world to challenge existing protocols in insurance placement, claims, analytics, legal, and service. We view BI as "anything that interrupts business" and adopt an approach that seeks to remove the historic blinders that have kept the focus largely on property-damage BI.
BICoE is a resource for our colleagues and a centre of innovation for our clients. It has a clear strategy and plan that focuses on education, product development, and claims.