In a significant move to bolster its property and casualty insurance claims services, KPMG Canada has enhanced its forensic unit by acquiring a specialized insurance claims firm.
The strategic acquisition marks a notable expansion for KPMG in the Eastern Canada and Southwestern Ontario regions, effectively doubling the size of its forensic practice in terms of both personnel and revenue.
The newly acquired firm – which KPMG did not name in its announcement but Insurance Business understands is H&A Forensic Accounting – specializes in providing income replacement benefits and commercial loss claims calculations, catering to the needs of insurance companies and their clients.
Janet Olsen, who worked at KPMG Canada before she co-founded H&A Forensic Accounting in 1993, has returned to KPMG as part of the acquisition. Olsen’s credentials span her vast experience in accident benefit and income loss calculations and financial dependency reports, with the three-decade veteran having prepared or reviewed upwards of 19,000 such documents.
Prior to KPMG’s swoop, the insurance claims business was under the ownership of BDO Canada from 2015. Now the team will operate from KPMG’s office in Oakville, Ontario.
The deal, financial terms of which were not disclosed, also brings to KPMG a sophisticated client portal system. The platform enhances the efficiency of income replacement benefit calculations and the overall referral process for files, offering a valuable resource for insurance claims handlers.
Kas Rehman, KPMG partner and national insurance claims leader, said: “With this acquisition, KPMG’s national forensic insurance claims practice will be able to better serve insurance carriers across the country by providing a more robust claims service, leading to more efficient processing and a better overall experience for insurers and their customers.”
Olsen commented: “We are thrilled to be joining KPMG and its team of experienced professionals. Its trusted brand, scale, and expertise will help take the business to the next level.
“I started my tax career at KPMG and became a senior manager in our tax practice, so, in a way, it feels like I’m ‘coming home.’”
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