Liability: When Do The Numbers Become Important?

This month MDD focuses on liability claims and looks at the benefits of getting the right technical accounting expert engaged early on to stress test quantum.

What you will learn from reading the article include:

1. How early involvement provides better tools for settling problematic liability claims.
2. Strategies for using forensic accountants to minimise costs.

When claims of negligence are brought against business owners, independent professionals or self-employed individuals, liability insurance is critical. There are of course many different types of liability cover available, including product liability, product recall, D&O liability, professional indemnity, public liability, employers liability and so on. We will put product liability and recall to the side for now – a subject for a later article.