Reported Values

Matson, Driscoll & Damico partner with both the insured, brokers and the carrier to confirm reported property insurance values before and after a loss. This includes the amounts reported for buildings, machinery and equipment, inventories and business interruption.   

MD&D’s process for investigating and verifying the accuracy of reported values includes interviewing risk management, operations and corporate accounting personnel. An analysis of the protocol used in determining the reported values starts with the insured’s books, records and other financial and operational documents, leading up to the values as actually used in the worksheets provided. 

Additionally, MD&D’s forensic accounting team will:  

• Understand the basis of proper valuation in the insurance policy
• Compare the asset insurable value to recorded book values at original cost
• Update asset values for new construction, assets placed into or taken out of service, price inflation and/or changes in foreign exchange rates
• Understand the manufacturing and sales processes, plant interdependencies and supplier/customer contingencies
• Identify key operating critical path assets with long replacement lead times

MD&D delivers a summary or comprehensive report of all findings, and discusses with all parties findings and any recommendations for modifications to the value reporting procedure.