Mazars has worked with companies to understand the underlying claims, settlement criteria, deficiencies and potential liability related to asbestos, pollution and liability claims.
Our past work has included:
- Auditing services
- Claim file reviews
- Statistical analysis on claims
- Development of databases and systems to monitor claim trends
- Estimates for financial reporting
- Cash flow concerns and potential tort settlements
- Issues relating to insurance coverage
The resulting work has been used for actuarial, claims, legal, finance, and risk management groups of insurers, reinsurers, regulators, trusts and corporate entities world-wide.
Mazars’ approach is grounded in understanding the full cycle of a claim, the inter relationship between work history and proof of exposure, and the medical criteria and conditions of asbestos related diseases. We also understand the legal issues surrounding asbestos claims, including jurisdictional issues and statute of limitations. We are experienced with asbestos trusts and their requirements set forth in the trust distribution procedures.
Within the past 5 years, Mazars has performed claim reviews in relation to 8 multinational companies. Each audit involved an average sample size of approximately 400 claims selected from historical databases of asbestos claimants regularly exceeding a population of 500,000 claimants.
Mazars have developed proprietary systems for auditing claims that are responsive to the requirements for claim resolution, which can be customized for each client.
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