inquesta-forensic-accounting

FINANCIAL LOSS DUE TO BUSINESS INTERRUPTION

Has your business been hit by financial loss due to business interruption caused by a third party or something out of your control? We are here to help.

Book a Consultation
Contact Us

How Forensic Accounting Helps with Business Interruption Loss Calculation

Due to the importance of the situation, it is vital that you get a business interruption loss calculation right the first time round. A forensic accountant will have the experience and technical prowess to oversee the entire process on your behalf; from evaluating policies and indemnity period, to calculating expected and lost revenue. 

Forensic accountants will act on behalf of claimants, loss-adjustors, or insurers to perform a robust investigation into the case to determine its validity, and, crucially, quantify the amount of damages incurred. The processes involved in an investigation will use a variety of complex accounting techniques to calculate losses and devise an action plan.

With the investigations complete, a forensic accountant will also be able to help in the negotiation stages, their goal being to achieve the best possible result for their clients. It is a truly all-encompassing service that takes the stress away from what will already be an incredibly difficult time. 

Given that a business interruption loss calculation can be extremely complex, and the stakes high, it is essential to seek out specialist assistance from a forensic accountant at the earliest opportunity. The burden of proof will be entirely on the claimant, so it is important to leave absolutely nothing to chance.

Who Hires Forensic Accountants for Business Interruption Claims

Forensic accountants can be instructed by all parties involved in business interruption claims, whether they be the claimants themselves, their legal team, a loss-adjuster, or an insurer. Their technical and data analysis expertise are often crucial to achieving a satisfactory result. 

A specialist forensic accountant will be able to assist with the claim from start to finish, ensuring that everything is taken care of in terms of investigation and evaluation. Since business interruption claims require a lot of evidence gathering and a comprehensive understanding of the numbers, many parties will look to forensic accountants to cover the essential skills they simply do not have.

What are The Different Types of Business Interruption?

Types of business interruption come in many different forms. From a long-term loss of connectivity, to natural disasters and everything in between, the impact of these events can be catastrophic to a firm’s bottom line. This is why business interruption insurance is so crucial.

Common types of business interruption include:  

  • Fire damage 
  • Flooding
  • Natural disasters
  • Long term loss of connectivity 
  • Cyber attacks 
  • Third-party actions

Need Our Assistance?

If you require the specialist guidance of a forensic accountant to analyse financial loss due to business interruption, contact our team today.

Contact Us

The Business Interruption Claims Process

While it may seem incredibly complex, it is essential that the business interruption claims process is carried out to the letter. Even the briefest of pauses to a company’s operations can cause real damage, so compliance is crucial. There are many stages to the procedure, from developing a plan and calculating losses, to negotiating a settlement. 

Thankfully, a forensic accountant can assist with all stages of the process, giving you the best possible chance of achieving a satisfactory outcome. The business interruption claims process is as follows:

How Inquesta Helps with Handling Business Interruption Claims

Given that proving financial loss due to business interruption can be an incredibly daunting prospect, it is essential to seek out specialist assistance. This is where Inquesta thrives.

Our team has amassed a wealth of experience in supporting claimants, loss-adjusters, and insurance providers, and is dedicated to achieving the best possible results for our clients. 

We conduct thorough investigations that leave no stone unturned, while also offering essential advice and support throughout the entire process. It is this holistic and all-encompassing service that has seen us become a leading name in our field. 

Using our decades of specialisms, we are the right people to quantify damages and assess the validity of a business interruption claim.

Get In Touch

Our Specialist Team

We have put together an expert team of forensic accountants that can assist with all aspects of financial loss cases due to business interruption.

rob-miller-inquesta-black-and-white

Rob Miller

Director of Forensic Accounting

A co-founder of Inquesta, Rob Miller is a chartered accountant, a member of the Institute of Chartered Accountants in England and Wales (ICAEW), and a Practising Member of The Academy of Experts.

With decades of experience in providing specialist forensic accounting services, Rob has been instructed to assist with numerous cases — such as financial investigations, criminal defence and confiscation proceedings, commercial and contractual disputes, valuation matters, and much more besides. He has acted on behalf of claimants, defendants, and as a single joint expert.

Contact
LinkedIn

FAQs

Our all-encompassing service is designed to help claimants, insurers, and loss-adjusters to achieve the best possible outcome for them.

As specialist forensic accountants, the Inquesta team use a wide range of investigation techniques and an in-depth understanding of the numbers to determine whether a case is valid and to quantify any damages that have occurred.

Absolutely. The potential financial loss caused by business interruption can be extremely damaging to a company’s bottom line. While business interruption insurance is designed to compensate for this, the process can often be extremely confusing, so why leave it to chance? A forensic accountant will be able to ensure all calculations are correct and provide an expert opinion on the case.

Also in Forensic Accounting

Commercial Dispute Resolution

Divorce & Matrimonial Disputes

Financial Crime

Forensic Insolvency

Forensic Technology

Financial Investigations

Personal Injury

Proceeds of Crime Act

Latest Articles

  • laptop with scales of justice feature

How Does a Confiscation Order Work?

By |January 24th, 2022|

A confiscation order is designed to force those deemed to have financially benefited from crime to repay what they have gained.  Unlike other orders with similar end goals, like a forfeiture order, a confiscation order [...]