Insured Property Losses
We calculate the economic impact of global property insurance claims covering business income losses, extra expense, ICW and stock and contents losses.
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Insured Property Losses
Navigating property losses
There’s a level of complexity to property losses that can be hard to see on the surface. What may seem like a simple damages calculation is actually informed by a far more complex understanding of an insured's business and the industry in which it operates.
Our property loss expertise
The investigation and quantification process requires the kind of deep experience of property insurance and the claims process that our skilled team possesses. Decades of experience investigating and evaluating insurance claims covered under property policies enable Baker Tilly’s forensic accountants to provide independent analyses and quantification of the financial impact of the loss that withstand the closest scrutiny.
Business interruption
Business interruption insurance (also known as time element insurance) protects a business owner against financial losses that result from an interruption of business operations due to fire, flood or any other insured peril. When claims are made, we assist in the measurement of insured losses. In forming the basis for our projections, our specialists carefully review financial performance, market data, constraints and other business and economic factors to arrive at a determination of the financial losses suffered.
Inventory and contents
Insurers and loss adjusters routinely engage us to quantify various elements of a property loss from a financial perspective. This often involves reviewing the volume of stock lost and the impact of accounting issues, including cut-off, obsolescence and shrinkage. Quantifying stock value may also involve a detailed review of the insured’s standard cost system and its cost allocation processes.
Catastrophic events
Property claims resulting from widespread disaster, natural or man-made, frequently involve many different insurers, commercial policies and policyholders. Claims management can be further complicated in these situations by the loss or devastation of property and financial records.
