HSNO’s team of forensic accountants offers technical expertise and investigative accounting services for clients involved in all types of insurance claims. In every case we work on, we emphasize and uphold fairness, accuracy and integrity from start to finish. HSNO has built a strong reputation in the accounting industry as reliable partners in resolving claims, particularly property insurance issues like delayed start up.
For delayed start up cases, HSNO delivers remarkable results for its clients by quantifying and investigating loss for the claim. This situation has severe consequences that must be tended to immediately. Many construction projects meet unexpected challenges, resulting in a delay or periods of idleness. This delay halts operations and can put a temporary stop to the stream of profit coming in. Insurance companies provide protection for this situation through Advanced Loss of Profit (ALOP) or Delayed Start Up (DSU) insurance.
In the case of a delay, HSNO works with its insurers and policyholders to determine the value of the loss generated from the delay in construction and determine whether it is represented in the policy. In order to reach a clear, accurate calculation, we review all available data including budget and forecast numbers, sales reports, production plans (including the feasibility study), and loan docs. We also conduct a careful review of industry reports and economy trends in order to gather both a broad understanding of the work at hand and how it was agreed to be executed.
For delayed start up cases HSNO provides the following services:
- Consider strategies to mitigate loss
- Obtain financial documents
- Analyze historical data
- Review budgets and forecasts
- Use modeling to make predictions for the future
- Measure anticipated revenue
HSNO makes it our priority to resolve these claims as quickly as possible for our clients. And as dedicated forensic accountants, we are able to respond to a high degree or volume of claims throughout the year. We run into fewer conflicts of interest than typical accounting firms because we do not perform audits or prepare tax returns. Our time is specifically directed toward forensic accounting capabilities.