Insurance Claims

Although most insurance claims are processed quickly and easily, they can sometimes end up in dispute or litigation if there’s a controversy about the nature of the incident or the amount of damages being pursued. Whether you’re a policyholder seeking benefits or an insurance company that is dubious about a claim, it’s critical that you have a knowledgeable and experienced forensic accounting team on your side.

A qualified accounting team that specializes in litigation support can help you back up your claims with facts and figures, which will make your case stronger in negotiations and in the courtroom. We review all the necessary financial documents and benchmark claims against similar cases. That allows us to accurately estimate damages and to justify those estimates with hard numbers.

At Smolin Lupin, our litigation team has experience working with both plaintiffs and defendants in insurance litigation disputes. We know how important it is to review evidence with an objective eye. We’re also well-trained and highly experienced in serving as expert witnesses. We can present complex evidence in a clear and concise manner and we can do so in a way that is without bias.

Regardless of which side of the table you’re on, we can help you. Here’s how:

Plaintiffs

Did your business suffer some unavoidable loss that has severely damaged your operations and ability to be profitable? Was your home severely damaged?

You’re probably looking to your insurance company or to the liable party’s insurance company to rectify the situation. Unfortunately, they may not always agree with your assessment of the situation. They could refuse your claim, in which case you may have to take the claim to litigation.

Many people wait until they’re well into the litigation process before they hire an accounting team for litigation support. This can be a costly mistake.

The litigation process starts as soon as you file the claim. You’ll likely need to include a letter that explains why you’re asking for a specific amount. You may have conversations with an adjuster to negotiate your benefit. The more that you’re able to back your claim up with facts and figures, the better your chance of getting your claim approved and avoiding litigation altogether.

By engaging an accounting team early in the process, you know exactly what facts are most important. What expenses do you face as part of the ongoing remediation?  How much revenue has your business lost as a a result of the incident in question? How were these calculations made? What were they based on?

Negotiations with an insurance company may become emotional. You want to stay grounded in the facts. That’s what we provide.

When it comes to settlement negotiation, we can support you and your legal team with a wide array of facts to put you in a better position. We can help you calculate your bottom-line number and prioritize certain negotiating points. We can also help you compare payments made today versus payments made in the future.

If the case goes to court, we can continue to provide litigation support or even take the stand as expert witnesses. We know that the best expert witnesses are the most objective ones. We testify on the facts that we’ve uncovered and do so without bias. We have experience facing cross-examination and can answer questions from both sides objectively and without emotion.

We’re a part of your comprehensive legal team. Our goal is to provide you with clear, transparent and accurate data so you and your attorneys can make the best decisions possible. Contact us as early as possible in the process so that we may provide the maximum level of value.

Defendants

We work with numerous insurance companies to help them accurately estimate the appropriate damages for an insurance claim. In many insurance lawsuits, there’s no question that an incident took place. There also may be no questions as to which party is liable. The only thing that is always in dispute is how much should be paid. That’s where we come in.

We can review all of the facts surrounding a claim to provide a clear and accurate estimate of how much in damages the plaintiff actually suffered. You can then use that data to make a facts-based argument in negotiations or at trial.

 

The most important thing in insurance claims litigation is to involve an accounting support team as quickly as possible. The earlier we’re involved in the process, the more value we can provide. Ideally, we can provide enough substantive data to help you and the other party reach a mutually beneficial settlement. That way, litigation is avoided and you can save the time and expense of a trial.   Contact us to learn how we can help you in negotiations, discovery and at trial. We would be happy to consult with you and your legal team on the details of your case.