Companies affected by major setbacks face many obstacles – receiving appropriate and timely insurance payments shouldn’t be one of them. BDO’s Forensic Insurance & Recovery professionals focus on the quantification and compilation of complex insurance claims in several areas:
- Property and business interruption
- Fidelity / employee dishonesty
- Product recall
- Directors & officers
- Cyber security breaches
BDO works on behalf of policyholders, providing an independent and objective perspective. Our long history of preparing fair and timely claims is respected by underwriters, adjusters, and their accountants, and has allowed us to recover more than $5 billion for our clients. Our fees are reimbursable under the standard Professional Fees / Loss Adjustment Expenses provision of commercial insurance policies.1
As one of the world’s largest accounting and advisory networks, BDO has substantiated and prepared some of the most complex property and business interruption insurance claims in both the United States and abroad. Events we have worked on include the terrorist attacks of September 11, Hurricanes Katrina and Sandy, the Thailand floods and the Japan earthquake / tsunami, in addition to losses across six of the seven continents around the globe.
Before an event occurs, companies need to be prepared to manage the accounting documentation required to prove their claims in order to achieve financial recovery on an insurable loss. In addition to reactive services, we also assist clients proactively, determining appropriate values to submit for each policy period, as well as completing the Business Income Worksheets for which policy premiums are determined.
We employ a service approach characterized by a high degree of senior-level involvement coupled with direct access to top technical resources, all with straightforward, proactive communication throughout each stage of the claims process.
1 The Professional Fees / Loss Adjustment Expenses provision is not provided in every commercial property policy. Each policy would need to be reviewed independently to understand if this coverage is present.