Damages Analysis
Rely on our breadth of experience, drawn from decades of advising on the quantification of losses and economic damages measurement involving casualty and liability claims.
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Damages Analysis
Damages analysis under liability and casualty policies
Law firms and insurance companies alike recognize the Baker Tilly name for our extensive analytical toolkit and deep expertise when it comes to quantifying losses for liability and casualty claims. Our vast experience in the insurance sector as well as in the legal arena gives us an edge in dealing with the variety of situations that arise across product liability and recall, professional liability/indemnity, personal injury/fatal accident and other liability-related claims.
Additionally, our team is well positioned and structured with professionals who have experience in providing expert witness testimony in a mediation, arbitration or trial setting. Where litigation in liability matters is possible, our experts can assist in many aspects of the case management and strategy, including financial analysis and documents review, hearing preparation and review of other experts' work and reports.
Our damage analysis expertise
We are regularly appointed by law firms and insurers to quantify the financial value in liability and casualty claims for their clients. We understand the often-complex business and insurance arrangements that result from liability losses and the impact on the various parties involved. We apply financial and industry expertise to understand the facts, circumstances and financial issues, providing our clients with objective analysis to assist with case strategy.
Product recall and product liability
In a product recall situation, clients count on Baker Tilly to help them identify and measure the extent of the financial impact of a product contamination, failure or other product-related issue. This may involve product recall and disposal costs, product rehabilitation and reestablishment expenses, cleanup and decontamination expenses, lost market share and/or loss of profits. Additionally, third-party damages are often present, which could result in damages analysis associated with the financial impact caused to other parties.
Our deep knowledge in the area of crisis management, product recall and liability allows us to provide insight, planning and consulting in a pre- and post-loss environment. We assist clients in recognizing the risks associated with product issues, helping them ensure that the risk is appropriately understood and managed.
Professional liability
Professional liability issues can lead to financial losses for a professional’s clients, customers or business associates. Such losses might involve reduced income, increased costs or other consequential financial impacts.
Our team of forensic specialists has significant experience measuring financial losses stemming from alleged negligence and professional liability issues in a variety of professions, including medicine, law, construction, design and engineering.
Personal injury
In cases involving catastrophic personal injury, our experienced team evaluates and quantifies lost earnings and benefits within the context of what are typically complex business affairs. In addition to reviewing salaries, bonuses, dividends and share options, we value impacts on pension benefits from various types of pension plans.
Integral to our role is that we help insurance and legal professionals arrive at and support these numbers in settlement, alternative dispute resolution or in court, where we provide expert witness testimony when required.
Subrogation
Insurers, insured parties and third-party defendants engage Baker Tilly’s skilled specialists to assist in subrogation and recovery actions. In such cases, we thoroughly examine the differences between the contractual amounts paid under an insurance program or policy and those which may be recoverable by the insured themselves in an action against the third party.
Our analysis and reporting include detailed quantification of the claim and the recording of relevant financial evidence.
