"I use Roger Wayman's expertise
several times a year to determine the loss of future income
or to determine whether or not an arson victim had motivation
to burn their business based on the business profits."
- Doug Carey, Claims Superintendent,
State Farm Fire and Casualty
(Kansas City Business Journal 10/4/96) |
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Business interruption is an insurance coverage based on loss of business income. A solid background of accounting knowledge, insurance coverage and communications skills are necessary for consultants. To effectively assist an adjuster, the outside expert must be familiar with the standards and techniques of measuring the loss of business income. There must be a familiarity with the differences between manufacturing, mercantile and service business accounting records.
It is frequently necessary to work with fragmented records and develop a claim amount based on available information. The ability to work with the insured in obtaining any records that can help with the project is a key attribute. It is necessary also to work with, and gain the trust of, the insured in order to arrive at a solution that is acceptable to all concerned.
Arson defense should almost always involve a forensic accountant's
investigation into the financial strength of the business
and its owner. My earliest exposure to forensic accounting
was in these types of cases. They are among the most challenging
and the most interesting cases I work on.
Insurance Clients:
Allied Group
AIG
Chubb Insurance
CNA Insurance
Crum & Forster
Farmers Insurance
Fireman's Fund
Hanover Insurance
Hartford Insurance
Home Insurance
Lloyds of London
Royal Insurance
State Farm Insurance
Travelers Insurance
Zurich-American
Adjusters:
GAB-Robbins
Crawford & Company
Gay & Taylor
And many smaller companies...
Contact me toll-free at 877-284-5871 or via e-mail regarding a loss of business income situation or other forensic accounting issue. |
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