Other Insurance Claim and Risk Management Services
Fidelity Bond Claims
BDO Consulting insurance claim professionals evaluate, quantify and substantiate losses stemming from employee dishonesty, in addition to other perils covered under commercial crime policies and financial institution bonds. We quantify losses through in-depth analysis of underlying accounting and financial documents, advise clients on acceptable standards of proof and assist with claim preparation.
Director and Officer Claims
BDO Consulting provides the accounting insight necessary to evaluate disclosures, accounting restatements and issues involving generally accepted accounting principles. We also assist general counsel in evaluating issues involving business judgment, industry standards and damages. Our experienced professionals have assisted counsel in some of the nation’s largest professional liability and D&O litigation involving a variety of accounting issues, across numerous industries.
E-Commerce Claims
As businesses today increasingly rely on the use of electronic communication and the Internet, substantial new risks have evolved. Organizations are vulnerable to financial and productivity losses when critical electronic data is destroyed or compromised. Computer crime, hackers and virus attacks, intellectual property infringement, design errors and denial of service are a few of the many risks associated with e-commerce. Our claim professionals assist insureds in quantifying exposures and substantiating insurable e-commerce losses by assessing and documenting insurable losses and presenting claims consistent with policy provisions.
To assist in mitigating insurable and non-insurable losses, our computer forensic and e-discovery professionals utilize our dedicated, on-site, state-of-the-art computer forensics lab to securely store and analyze electronically stored information relevant to our clients’ claims. We assist in investigations and litigation based on our understanding of legal proceedings and best practices, drawing upon our experience with technology to help determine the locations where information is likely to be stored, identify potentially available information, and advise on the process for the efficient and effective retrieval, analysis and presentation of information.
Surety Bond Claims
Whether engaged on behalf of the obligee, principal or surety, BDO Consulting uses a multidisciplinary approach in handling surety bond claims. Our certified public accountants, construction and surety professionals quantify and document losses under bid, performance and payment bonds and recommend alternative courses of action based on a comprehensive financial analysis of the defaulting party. BDO Consulting also monitors the completion and re-letting of the contract.
Product Recall Claims
Product recall losses include lost sales, damage to goodwill and an array of extra expenses. BDO Consulting professionals assist insureds in recovering from these devastating events by thoroughly evaluating the financial impact that product recalls may have on an insured’s business, as well as by pursuing indemnification from relevant insurance policies.
Risk Management
BDO Consulting assists insured organizations in assessing insurable risk, including identifying business interruption and property damage exposures. We advise clients on appropriate insurance policy limits, sub-limits and deductibles as well as an approach to completing business interruption worksheets and identifying inter-dependency exposures.
Appraisal and Alternative Dispute Resolution
Our professionals have been selected as umpires and appraisers on complex commercial insurance disputes, including business interruption disputes and property damage claims. Our broad experience working with insured organizations as well as underwriters enables our professionals to approach our clients’ issues objectively to facilitate favorable resolutions to insurance claim disputes.
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