Rejected Claim Audit #2

Background:

Battea was contracted to review a rejected claim. The firm suspected there was a mistake in recognized loss calculations made using a former filing method due to an improper understanding of derivatives.

The Claims Engine^® processed a complete transactional history of the firm to capture any and all trading related to the claim.

The Battea Difference:

The Claims Engine^® uncovered that the rules in the plan of allocation for the settlement failed to properly consider the dates between put and call exercisings.

Battea consulted with the claims administrators and requested corrections to the rules. The claim was reprocessed and submitted using the revised rules and an accurate and substantiated recognized loss calculated.

Client Award:

$1 Million award delivered.