When was the last time you checked your business insurance policy?
Earlier this year, the UK was plagued with flood damage beyond belief. Homes were ruined, businesses suffered severely – and the Government turned to insurance companies to fix the damage. Clearly, the UK was in the grip of extreme weather conditions – and many business owners across the UK were in the same boat.
In instances of ‘fire’ – where businesses are burnt to the ground – a pub, a restaurant, a hotel or any other business – there’s many a suspicious look and mutterings around just whether or not the business had been performing as well as it could have been.
Of course, in the case of a fire – there can be complete destruction of the business owners business and all related records. Nothing left but cinders for the insurance inspectors to review.
It’s at this point that business owners or insurers can bring in forensic accountants. Experienced forensic accountants are able to piece together evidence, building an accurate historical accounting picture, even where all records have been totally destroyed.
If you have concerns about an insurance claim – and are looking for the advice of forensic accounting experts – simply get in touch.
By Vitek Frenkel – find me via Google+