Team member shares content on a tablet

Insured Losses Under Financial Lines

Investigations for the high-stakes world of D&O, crime and fidelity and political risk

Insured Losses Under Financial Lines

  1. Clive Burrows

    Clive Burrows

    ACA

    Partner

  2. Paul Cadorette

    Paul L. Cadorette

    CPA, CFF

    Managing Director

  3. Ryan Carruth

    Ryan Carruth

    CA, CPA, CFE, CGMA, CFF

    Partner

  4. Justin Crick

    Justin Crick

    FCA, ACIArb

    Partner

  5. Paul DeBoer

    Paul L. DeBoer

    CPA, ABV, CFF, CFE

    Director

  6. Michael Diliberto III

    Michael Diliberto III

    CPA

    Managing Director

  7. Mary E. Furst

    Mary E. Furst

    CPA, ABV, CFF, CFE

    Managing Director

  8. Amanda Fyffe

    Amanda Fyffe

    FCA, MAE, MEWI

    Director

  9. Andrew Greenland

    Andrew Greenland

    MEng, ACA

    Partner

  10. Rica Herrera

    Rica Herrera

    CFE

    Director

  11. Ben Hobby

    Ben Hobby

    FCA, Dip CII

    Partner

  12. Jenny Hodgson

    Jenny Hodgson

    FCA

    Director

  13. Linda E. Hogarth

    Linda E. Hogarth

    CPA, CFF, CGMA

    Director

  14. Sophie Holdsworth

    Sophie Henderson

    CA, ACA, MA (Oxon)

    Director

  15. Richard M. Holstrom

    Richard M. Holstrom

    CPA, ABV, CFF, CFE

    Managing Director

  16. Alan Lurie

    Alan Lurie

    CPA, CFF, CFE

    Partner

  17. Russell Matheson

    Russell Matheson

    CPA, CFE

    Director

  18. Ashley McPhee

    Ashley McPhee

    CA, CFE, ANZIIF (Fellow)

    Partner

  19. Robbye L. Mohn

    Robbye L. Mohn

    CPA, CFE (Fraud)

    Managing Director

  20. Simon P. Oddy

    Simon Oddy

    FCA, CFE, MCIArb

    Partner

  21. Steven A. Rosenthal

    Steven A. Rosenthal

    CFE

    Partner Emeritus

  22. Derek W. Royster

    Derek W. Royster

    CPA, ABV, CFF, CFE

    Partner

  23. Eric M. Sherman

    Eric M. Sherman

    CPA, CFF

    Partner

  24. Christian Skodczinski

    Christian Skodczinski

    Expert BTE e.V., FUEDI ELAE

    Partner

  25. Imogen Swain

    Imogen Swain

    FCA

    Director

  26. Katharyn Thompson

    Katharyn Thompson

    CPA, CFF

    Managing Director

  27. Jack Torpey

    Jack Torpey

    FCA

    Partner

  28. Keith Tuffin

    Keith Tuffin

    FCCA, MAE, MCIArb

    Partner

  29. Timothy J. Voncina

    Timothy J. Voncina

    CPA, CFF, CGMA, CMA, CFE

    Partner

Claims in the financial lines arena are often especially high profile and complex. When people associated with your insureds’ organization stand accused of negligence or financial crime, you can waste no time getting to the bottom of things. Our accomplished team brings significant experience quantifying losses and analyzing claims. In all engagements, we ensure that issues regarding quantum are understood and addressed. Whether the need is efficient assessment of a discrete issue or full review with detailed calculations, Baker Tilly’s experienced forensic accounting team can help. We’re equally as effective in the boardroom as the courtroom – let us support you where you need us most.

Our financial claims expertise

We apply our expertise to a full spectrum of claims including crime and fidelity, directors and officers liability, political risk, and surety bonds. Our forensic accountants have broad experience of reviewing financial claims and are supported by our forensic technology colleagues who, with computer-assisted audit tools, can extract and examine large amounts of financial data. Where nonfinancial scrutiny is required, we work closely with our investigation team to provide background research and intelligence gathering. We can also assist with asset tracing and recovery.

Crime and fidelity

Insurers and their advisors retain our deeply experienced team to investigate, identify, and verify amounts claimed under a commercial crime package policy, fidelity policy, or financial institution bond coverage form. We scrutinize trails of financial data to evaluate the merits of the scheme and identify the facts and financial evidence necessary to accurately quantify the loss. Such claims typically arise from employee dishonesty, misappropriation, embezzlement, forgery, theft, robbery, or fraud. We also provide commentary on how to better prevent and detect future fraud.

Directors and officers

When a claim arises under a directors and officers (D&O) liability policy, we assist insurers in the review of the claim and the quantification of losses. Our evaluation may involve determining whether the actions of company directors have impacted the company’s value.

For competition cases, our economic knowledge and accounting expertise can assist in determining if a director’s actions were anti-competitive.

Political risk

After a domestic or international event triggers a political risk policy, adjusters and legal teams engage Baker Tilly to quantify the resulting financial losses. This usually involves a detailed review of current and historic market conditions, as well as future projections. We will also consider the contractual relationships of the various parties in detail in order to fully calculate the total loss of profits.

Surety bonds

In situations where a contractor experiences financial difficulty that threatens the successful completion of a construction project, surety bond coverage is typically invoked to protect the debtor in possession by financially assisting the principal, or by transitioning the project to another contractor for completion. When the principal under a surety bond contract is deemed unable to meet its obligations and is potentially heading into insolvency, our seasoned professionals have the expertise to quickly evaluate the principal’s financial condition for the surety. This expertise, coupled with our extensive experience in construction accounting, often proves invaluable to the surety in managing and quantifying the loss under the surety bond.

Our services

Financial lines

  • Crime and fidelity
  • Directors and officers
  • Political risk
  • Surety bonds

Liability

  • Personal injury and fatal accident
  • Product liability and recall
  • Professional liability

Property

  • Business interruption
  • Extra expense
  • Contingent time element
  • Catastrophe response

Construction

  • Delayed start up
  • Property damage
  • Subrogation

Reviews

  • Coverholder reviews
  • Income protection
  • Pre-loss reviews
  • Reinsurance reviews