Alan Gray Selected to Provide Run-Off Administration Services for ECRA and CMC Reinsurance Pools
Alan Gray has assisted insurance companies, attorneys, third-party administrators, and business owners in evaluating business losses for over 20 years. Whether the loss is the result of business interruption, fraud, theft, weather, fire, misuse, or a financial misstatement, organizations that find themselves in this situation need to act quickly and employ professionals skilled in evaluating claims within the framework of today’s complex insurance coverages. The Forensic Accounting Services practice provides effective solutions to complex business problems that result in improved client profitability and minimized submitted loss exposures.
A major international financial service company needed a forensic accounting review to quantify a misappropriation by a reinsurance broker.
We identified over $100M in potentially misappropriated funds, and Alan Gray staff were instrumental in assembling the required support that led to a substantial recovery and prosecution.
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A technology-based manufacturer in Rhode Island claimed an employee theft loss of $1,1M.
The misappropriation we reconstructed settled for $600,000, totaling savings to the insurance carrier of $500,000.
A commercial insurance carrier requested a review of a business income loss claim for a 200+ unit storage facility where 40 units were damaged by fire, totaling $255,090.
Alan Gray’s Forensic Accounting review identified duplicate costs claimed for property manager fees, no consideration of saved expenses, and estimated lost rent not reduced by actual rent collected during the loss period that resulted in a reviewed claim amount of $140,675, for a savings to the insurance carrier of $114,415.
Alan Gray was established in 1988 as a claims and audit advisory firm, and over the years has built a reputation as a cost-effective, reliable, and trusted resource to those involved in the management of risk.
