Quantifying Insured Energy Losses
Helping the global energy insurance market to equitably quantify losses so that claims can be swiftly and amicably resolved
Quantifying Insured Energy Losses
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.
Our energy expertise
We’ve been involved in loss of profit quantification assignments across over 100 countries, including thousands of multimillion-dollar and complex assignments. The Baker Tilly team has acted on a number of the largest that the energy losses the insurance market has faced.
At Baker Tilly, our capacity to work at significant scale is an asset. Baker Tilly’s international network enables us to achieve greater geographic spread and access more resources when needed. Clients receive seamless global service with access to Baker Tilly’s international network.
Ours is not a one-size-fits-all practice – from high level advisory assistance to boots on the ground support, we tailor our approach to what each client requires. Our experienced team members are frequently instructed on a whole spectrum of business interruption losses, and clients rely on us to ensure that the amount paid is accurate and timely and can be justified to all stakeholders.
We strike the right balance between speaking the industry-specific technical language of your team and explaining our findings in a nontechnical way that is understandable and persuasive. You can count on our specialists to be credible in front of multinational energy companies and ensure that all parties expectations are well managed through clear, reliable and timely communication.
Our professionals
