Including tax returns, for catastrophic insured losses causing business interruption, inventory losses, loss wages, etc., both for the insured and the claimant. This enables the insurance companies to settle claims in a fair and equitable manner, thus saving time and money.
Your insured is working on a gas main, when suddenly it explodes causing property damage and loss of inventory to a retail establishment. This establishment provides a loss of inventory in excess of 1 million dollars, and business interruption of 300 thousand dollars. Is this a legitimate amount? How did they determine their loss of business? How did they determine their inventory loss? These are questions that can be answered by our experienced staff. We will examine tax returns, inventory sheets and any other necessary documents to arrive at a proper inventory. Remember inventory should be valued at the lower of cost or market. Therefore, inventory may consist of obsolete goods with little or no value. Insurance companies only want to indemnify the claimant, not enrich him. Also, our examination will consist of all examination of all financial records pertaining to this establishment, to arrive at a fair and equitable business interruption settlement.
Our experienced staff will examine wage reports and payroll files to determine if loss wages are accurate and correct. Sometimes a claimant may institute a fraudulent or suspicious claim for loss wages. We will examine, analyze and compare payroll records with prior years and with industry standards for accuracy. This will insure that the Insurance Company will not pay any more than is necessary.