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| Crawford rewarded for thwarting bogus EUR 600,000 claim |
MADRID, SPAIN, July 30, 2014 - (ACN Newswire) - Crawford & Company is pleased to announce its success at this year's Spanish Insurance Association awards, taking first prize for its anti-fraud services.
The Company received the "Loss Adjuster of the Year 2013" award in the category of Fraud Detection at the ICEA (Investigacion Cooperativa entre Entidades Aseguradoras y Fondos de Pensiones) awards after uncovering a significant collusive deception that would have cost the insurer hundreds of thousands of euros in fraudulent claims.
Crawford's investigation resulted from a theft of computer components valued at approximately EUR 600,000 (US$830,000). Judges commended Crawford for carrying out a detailed forensic examination despite obstructions from the claimant, and eventually revealing how the fraudsters - in collusion with various other parties - had created false invoices and made a number of suspicious purchases immediately prior to reporting a theft.
"From the beginning it was an abnormal and unpleasant claim to manage," says Jesus Garcia Fernandez, senior general adjuster, Crawford Global Technical Services(R), Espana. "It was problematic to perform a physical inventory of the store after the robbery, the manager was always accompanied by his lawyer and no normal communication was possible. With this type of behavior, it was never going to be easy, but our teams at the Crawford Barcelona office deserve great credit for their diligence and attention to detail."
Mark Harman, chief executive officer, Continental Europe, Middle East and Africa, Crawford adds: "This is a fantastic award and richly deserved. This type of forensic analysis is at the core of our anti-fraud service and the teams involved in repudiating this bogus claim should be very proud of their efforts against what is a highly sophisticated criminal enterprise."
About Crawford
Based in Atlanta, Ga., Crawford & Company (www.crawfordandcompany.com) is the world's largest independent provider of claims management solutions to the risk management and insurance industry as well as self-insured entities, with an expansive global network serving clients in more than 70 countries. The Crawford Solution(SM) offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers compensation claims and medical management, and legal settlement administration. The Company's shares are traded on the NYSE under the symbols CRDA and CRDB.
For more information, please contact:
Lynn Cufley, Communications Director
T: +44 (0) 207 265 4067
M: +44 (0) 7585 901936
lynn.cufley@crawco.co.uk
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Crawford & Company via Globenewswire
Topic: Awards
Source: Crawford & Company
http://www.acnnewswire.com
From the Asia Corporate News Network
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