Forensic Accounting Firm Addresses Growing Industry Concerns at PLRB Claims Conference
RGL Forensics Addresses Soft Cost Claims and Ponzi Schemes at Insurance Claims Conference.
- Denver, CO (1888PressRelease) April 05, 2011 - RGL Forensics, an international forensic accounting, consulting and financial investigation firm, announced today they will respond to business insurance trends in the market with two keynote speakers at the annual Property Loss Research Bureau (PLRB) Claims Conference.
Insurance claims professionals understand that claims are often times challenging and complex. Both builder's risk soft cost claims and fidelity claims involving Ponzi schemes are two prime examples of these complexities. Now add into the equation a troubled economy and it makes determining quantum even more challenging and complex.
Soft Cost Claims: RGL Partner Ryan Carruth will be speaking on a panel about issues in soft cost claims in a troubled economy. Specifically, he will be addressing:
• What are soft costs under a Builder's Risk policy
• Mezzanine financing and its implications on soft cost claims
• Identifying information and resources helpful in analyzing soft cost claims
• Exploring claims under civil authority provisions
"Builder's Risk claims have always been complex claims, but with the tightening capital markets, developers and owners have looked to other sources of project funding, which has resulted in adding another layer of complexity to those claims," said Carruth. "The key is to stay on top of those trends and recognize and address what impact those changes will have on the claims professional and the insurance industry."
Carruth is a Certified Public Accountant, Certified in Financial Forensics, and a Certified Fraud Examiner. He is an experienced forensic accountant in the areas of litigation and commercial insurance claim's consulting.
Ponzi Scheme Claims: Issues in Coverage and Adjustment: Partner Randy Wilson, the Director of Fraud and Fidelity services at RGL, who has a strong focus in the investigation of insurance fraud cases, will be serving on a panel discussing Ponzi schemes and the issues it presents in coverage and adjustment for insurance professionals. Wilson's specialty lies in investigation and expert testimony of financial fraud and fidelity cases.
Specifically, he will be addressing:
• Reviewing recent history and key elements of Ponzi schemes and the attempts to recover losses sustained by the underlying victims
• Evaluating decisions in current litigation relevant to recovery suits
• Identifying key principles, facts and law that factor into these decisions
• Examining coverage potential, adjustment and accounting challenges from fraud claims including fidelity, errors and omission
• Identifying restitution and subrogation potential with claims arising from these types of frauds
"The issues of Ponzi schemes and insurance claims are very topical these days," said Wilson. "Many people think that there have been less such cases since Madoff, but the incidence of discovery of these schemes has actually increased. As a result we are seeing more fidelity, D&O and professional liability claims."
The PLRB Claims Conference will be held April 3-6 in Nashville and brings together experts in insurance claims, adjusting, and expert consulting. Other RGL professionals attending are Partner Steve Rosenthal who is head of the Insurance Practice Area, Partner Katharyn Thompson and Partner Derek Royster.
About RGL Forensics
RGL Forensics is an international firm of accounting, finance and economics professionals who are specially trained in discovering and defining financial value. The firm has served the insurance, legal, corporate and public markets for over 30 years. For more information about RGL Forensics, please visit www.rgl.com.
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