In response to the increasing number of large scale disasters that result in highly complex claims, Willis Group Holdings plc, the global risk advisory, re/insurance broking, and human capital and benefits firm, launched the new Forensic Accounting & Complex Claims (FACC) practice.
The team of public accountants and other forensic experts works with organizations to maximize recovery and minimize losses while reducing the complexity and length of settlement time. They also provide pre-disaster planning and advice, enabling risk managers to make more informed decisions, based on quantitative analysis, in managing their property and casualty risks.
The practice is led by Ken Giambagno, a global forensic accountant for more than 30 years. Giambagno has worked on resolving claims and disputes for businesses in excess of $8 billion during the past 10 years. He reports to John Merkovsky, Willis’s Group Head of Risk & Analytics.
FACC will work with companies across all industry sectors globally by:
- Simplifying the claim process
- Quantifying the loss amounts and gathering the necessary supporting documents.
- Minimizing the overall disruption to business operations by obtaining cash advances in the early stages of a loss.
- Preparing and submitting the claim on behalf of the client in a format that is familiar to insurers.
- Working directly with the loss adjuster and the carrier’s experts.
- Participating in meetings to explain the methodology behind loss calculations and responding to requests for additional documentation.
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