HSNO’s range of support for insurance claims is vast, including business interruption and contingent business interruption cases. Company profits are at risk when any force is able to halt business operations to the point that normal work cannot be performed. As a result, business interruption insurance is a popular safety net. To ensure accuracy in claims and quick resolution with an insurance provider, forensic accountants are called upon to identify, quantify, and prove the value of the loss.
As forensic accountants, HSNO provides technical expertise to companies during the claims process in order to recover and minimize losses as much as possible. We also work with contingent business interruption cases to predict areas that are most likely to experience interruption. The team’s familiarity with these cases helps expedite the process and keep clients at ease.
Measuring the value of loss can be complicated and is the greatest benefit HSNO brings to business interruption cases. In order to present a strong case based on facts and evidence, HSNO provides the following services:
- Study the economic trends of the industry
- Review current policy coverage
- Contact organization’s key management to discuss how the loss affected operations
- Obtain and analyze financial documents (i.e. income statements, budgets, payroll, income tax returns, etc.)
- Compare projected and actual performance during time of interruption
- Consider events that were non-related to the interruption that may have caused an impact
After looking at all this data, HSNO forensic accountants will calculate damages exclusively tied to the interruption.
HSNO recognizes the importance of a timely response when preparing claim reports. We offer immediate response anywhere in the world. Because the firm does not perform audits or prepare tax returns, we have fewer conflicts of interest than typical accounting firms and can respond to any degree or volume of claims during any time of the year.