Insurance Sector - Loss Quantification
The Ontario insurance industry continues to face an expanding rate of claims in all areas of coverage. Automobile accident claims covered by Bill 59 and the Statutory Accident Benefits Schedule require an income replacement benefit to be quantified accurately and expeditiously. Since 1996 MG Forensics has assisted major Ontario insurers addressing Bill 59 concerns specifically as they relate to income verification and quantification for self-employed Claimants.
Consistent, timely communication with the client coupled with an understanding of the core issues involved in each individual case and a detailed knowledge of the Statutory Accident Benefits Schedule (SABS), is how MG Forensics realizes the objectives of client service and quality representation.
Part of our service includes visiting the Claimant's place of business when it is deemed necessary. Site visits assist MG FORENSICS professionals in determining the nature of the business enterprise and the circumstances relevant to the claim. Concerns that require clarification are pursued to arrive at a fair representation of the Claimant's circumstances, both preceding and subsequent to the date of loss. Site visits have proven to be an invaluable component in the MG FORENSICS process of accurately quantifying a Claimant's earned income.
Once adequate and reliable records are collected, the income replacement benefit is calculated and a comprehensive report to that affect is prepared. Included in that report are original source documents (whenever available) and each report is reviewed in detail to ensure that the client is receiving a reliable, quality product that will assist the in handling of each respective claim.
MG Forensics has experience in the calculation of losses associated with cases of business interruption, personal injury and death and loss of earning capacity. Our unique investigative component provides the added dimension of uncovering not only the facts of the occurrence but also the story behind the numbers. This serves to broaden the depth of information available to the insurance adjuster thereby further assisting the claims process an, eventually, the resolution of the file.