When working on an insurance claim, an experienced forensic accountant understands the importance of linking the financial damages to the loss event. (Credit: sasirin pamai/Shutterstock)
Documenting and preparing an insurance claim as a result of a loss event is often disruptive, complicated and time-consuming. For an insured, the claims process can be a drain on resources during a period when normal business operations should be the primary focus of management.
To minimize the impact of the claims process, an insured is well served by the early establishment of a team of experts, including forensic accountants and industry professionals, to assist in the claims process. A knowledgeable broker can facilitate the building and management of the expert team on the insured's behalf. The broker and the expert team will work to expedite the settlement of the claim and minimize the disruption to the insured. Establishing a team early allows management to focus on the business of its business.
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