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They have got my project on time with the competition with a highly skilled, well-organized and experienced team
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Economic Damages Quantification
Economic damages are damages that usually involve loss of profits, loss of wages and earnings (past and future), loss of future earning capacity, damage to real and personal property and loss of value. Economic damage quantification is the measurement of these damages which often result from a harmful act. There are many events that can result in economic damages for an individual or business, for example, damages caused to the environment, catastrophes such as 9/11, fraud, personal injury or wrongful death or other economic factors.
In quantifying a disputed amount or a financial loss, we question the underlying assumptions, identify the relevant issues and thoroughly examine the detail. Our depth and breadth of industry experience and commercial acumen enables us to really understand whether the numbers make sense and will stand up under the toughest scrutiny.
Who performs an Economic Damage Quantification?
For many years, insurance companies, lawyers, adjusters, government agencies and businesses have turned to forensic accounting firms like MDD Forensic Accountants to assist with economic damage quantification.
Forensic accountants have the professional training, experience and expertise to perform the assessments and calculations, no matter how challenging they might be.
Forensic accountants such as MDD are able to quantify economic losses across a wide range of areas including insurance claims, fraud and embezzlement, personal injury, business disputes, business interruption, divorce and marital disputes, construction defects, environmental damages, cyber-crime, product liability, patent and copyright infringement and more.
How are the Economic Damages quantified?
There are several approaches that are utilized when quantifying economic damages, a few examples are shown:
- Benchmark Approach
- Before and After Method
- Underlying Contract
- Defendant’s Profits
How We Can Help?
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Our forensic accounting professionals are exceptionally dedicated and qualified experts with proven track records who provide economic damage assessments that stand up to scrutiny.
