Our team have been supporting Insurer clients with business interruption claims since the first UK lockdown. In this time we have seen anomalies in claims including:
As a result of business closures during the COVID-19 pandemic, we have seen a high number of exaggerated and fraudulent business interruption claims, meaning Insurers are at risk of over-compensating policyholders. Our specialist team of forensic accountants and intelligence analysts have the tools and expertise to detect inaccurate information, to help safeguard you from fraud and help you to settle legitimate business interruption claims at the right amount.
Our team have been supporting Insurer clients with business interruption claims since the first UK lockdown. In this time we have seen anomalies in claims including:
When you refer claims to us, we will process the details through our comprehensive claims database, D:cypher, to uncover any suspicions or evidence of previous misconduct connected to the policyholder, its management or key employees.
Meanwhile our forensic accountants will review all of the documents provided in support of the claim(s), to uncover anything that doesn't stack up, such as inconsistencies in the financial records or calculations or explanations.
We will use this intelligence to provide a concise risk report highlighting any red flags and identifying any further concerns or areas which may require further information from the policyholder or a more in-depth Phase Two investigation.
Once our Phase One findings have been considered and any risks appraised, we can conduct a further targeted intelligence review or a full quantification exercise.
Our intelligence team are experts in finding and analysing relevant information from a wide range of sources beyond our proprietary database; including public records, data aggregators, subscription services and social media.
Our experienced forensic accountants can assess the financial elements of BI claims and fairly quantify any true business losses to eliminate the risk of over-compensation.