OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best and Best’s Insurance Professionals and Claims Resource have released the latest installment of the Insurance Law Podcast, a series that examines timely insurance and claims issues from a legal point of view.
This episode discusses how to defend against expert business valuation testimony. The expert’s qualifications should first be examined to confirm that he or she has a business valuation certification and the appropriate skill set and experience. Next, the expert’s methodology should be evaluated, which includes several factors: Calculations need to be in accordance with the conditions of the policy or contract; the analysis must be based on facts rather than assumptions; facts and documentation presented in discovery should all be considered; appropriate professional standards need to be met; and the methodology should be consistent with the expert’s prior cases. A party may also apply the Daubert standard, which is a rule of evidence regarding the admissibility of expert witnesses’ testimony.
The podcast features Derek Royster and Matthew Curtis from RGL Forensics, a financial investigation company specializing in the economic analysis of major claims for the insurance industry. Mr. Royster is a partner and certified public accountant (CPA), who works with insurance companies and law firms to quantify economic damages and provide litigation support. Mr. Curtis is a senior manager, who is both a chartered financial analyst shareholder and a CPA. He provides analysis for mergers and acquisitions, corporate strategy and commercial disputes.
RGL Forensics is a qualified member of Best's Recommended Expert Service Providers, a claims industry resource that has featured qualified legal counsel, independent insurance adjusting services and expert service providers since 1929.
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