Willis launches forensic accounting, complex claims practice

Willis Group Holdings plc announced Wednesday a new forensic accounting and complex claims (FACC) practice, which the commercial brokerage says will help companies “across all industry sectors globally” submit claims “in a format that is familiar to insurers.”

London-based Willis said the FACC practice will include a team of accountants and other forensic experts who would work directly with a claimant’s loss adjuster and experts with the carrier.

“As businesses become more sophisticated, they continue to demand more by way of risk insights, services, advice and tools,” stated John Merkovsky, head of risk and analytics for Willis, in a press release. “Willis has responded to this by launching this highly specialized FACC unit to help clients better understand their exposures pre-disaster and to provide the necessary advice and support to resolve complex claims when disaster strikes. This in turn helps them to build resilience in their organizations and compete more effectively.”

Reporting to Merkovsky, Ken Giambagno will lead the Willis FACC practice.

“Effectively planning and preparing for a loss before it happens, as well as accurately calculating business interruption losses and property damage after a major disaster often allows a business to get back on its feet ahead of its competitors,” Giambagno stated.

The FACC practice can help clients by “preparing and submitting the claim” on their behalf “in a format that is familiar to insurers,” Willis noted. FACC members could also participate in meetings “to explain the methodology behind loss calculations and responding to requests for additional documentation.”

FACC members can also help policyholders quantify loss amounts, gather supporting documents and obtain cash advances in the early stages of a loss.