Willis launches claims practice addressing large-scale disasters
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Willis Group Holdings P.L.C. on Wednesday said it has created a forensic accounting and complex claims practice to aid recovery efforts across a wide range of disciplines after large-scale disasters.
The team of public accountants and other forensic experts will be led by New York-based Ken Giambagno, who will report to John Merkovsky, Willis' group head of risk and analytics, the broker said in a statement.
The unit will help clients quantify loss amounts and gather necessary supporting documents, and work directly with loss adjusters and insurance experts, simplifying the claim process so businesses can focus on returning to their normal day-to-day activities, Willis said in the statement.
In addition, the unit will secure cash advances in the early stages of a loss to help minimize the overall disruption to business operations and participate in meetings to explain the methodology behind loss calculations. It also will provide pre-disaster planning and advice, according to the statement.
“Businesses today operate in a dynamic, complex and interconnected world, which means that the insurance claims process can be lengthy and fraught with complications if it is not handled correctly,” Mr. Giambagno said in the statement, citing Superstorm Sandy, the 2011 Tohoku earthquake and tsunami, and the Sept. 11 attacks on the World Trade Center as examples of large, complex claims scenarios.
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