Quantifying Insured Energy Losses
Helping the global energy insurance market to equitably quantify losses so that claims can be swiftly and amicably resolved
Our experienced forensic accounting team is uniquely qualified for the challenge and diversity that complex energy losses bring.
Baker Tilly’s highly skilled global team has deep sector expertise, with extensive experience in the quantification of energy business interruption losses, covering upstream and downstream oil and gas businesses, mining and mineral processing firms, and all aspects of power generation, both renewable and conventional. The team has successfully handled the full range of losses, from relatively small high frequency claims to significant industry events, some in excess of a billion dollars.
Our specialists understand the roles and responsibilities of the various stakeholders when an energy loss occurs and are ready to work closely with all participants – including claims handlers, loss adjusters, engineers and lawyers – to help assist all aspects of the quantification from the establishment of initial reserves to the eventual settlement of the loss, while assisting insurers to maintain the cash flow of their client via timely payments on account.
Our energy industry services
Baker Tilly’s energy industry expertise is split into the following categories:
- Upstream and downstream oil and gas facilities, including petrochemicals
- Power generation, both conventional and renewable
- Mining/mineral processing
The team has handled numerous energy losses during both the construction (i.e., advance loss of profits and delay in start-up) and operational phases (business interruption) of energy projects.
