Insurance Expert Witness Services
When a company experiences a catastrophic loss, the focus quickly turns from risk management to claims management. The loss of assets and resulting operational challenges are difficult enough, but when coupled with litigation involving insurance claims, it can make it difficult for the company to even survive.
Accurate & Reliable Insurance Expert Witnesses
Tapanen Group understands the urgency and complexity of litigation support for insurance claims and catastrophic loss. Insurance litigation issues require swift and decisive action supported by accurate, reliable appraisals, and credible insurance expert witness testimony. And while industrial insurance appraisals are common, the approach to them is not.
Industry Specific Integrated Approach
Our integrated valuation approach to the entire facility provides us the insight needed to help our clients properly insure their assets and claim sufficient proceeds in the event of a catastrophic loss. This provides our insurance expert witnesses a distinct advantage in court. Additionally, our team’s unique blend of engineering, finance and business valuation backgrounds combined with focused industry experience ensures that we deliver accurate appraisals to help support our insurance expert witness testimony.
Insurance Expert Witness Solutions :
Some of our insurance appraisal solutions include:
- Building Insurance Inspection & Appraisals – Full-scope inspection and valuation of the facility
- Machinery & Equipment Insurance Appraisals – Establish replacement costs of all equipment assets
- Integrated Facility Replacement Cost Modeling – Establish replacement costs of various facility areas using recent construction costs
- Insurance Appraisal Updates – Annual updating & review service for the facility and it’s equipment
- Insurance Loss Disputes – consulting & appraisal service to assist with insurance claim disputes
Benefits Of Insurance Appraisals :
Our insurance appraisals have helped clients in a number of ways including:
- Determining appropriate insurance coverage and limits for your facility
- Accurate premium determination & allocation
- Improved marketability to underwriters for policy renewal & rating factors
- Reduce probability of unnecessarily denied claims
Risk Management Strategy :
Your business and assets continually change, and so too must your risk management strategy. There are a number of key questions that must be asked in order to adequately manage your company’s insurance risk:
- Do we have an accurate inventory of acquired and retired assets?
- Have we acquired, divested, or expanded any of our facilities this year?
- Have the correct cost trend values been applied each year?
- Do we have enough coverage to re-build or replace at current standards?
Insurance Claim Valuation :
When there are millions of dollars of insured property at risk, the insurance claim process can become very complicated. Both insurance companies and business owners turn to us to assist with litigation support and insurance expert witness services to help resolve insurance claim valuation disputes in a fair and equitable manner.
To learn more about our insurance expert witness services and litigation support, click here.