New division to help quantify major losses launched at Airmic
Cunningham Lindsey has launched a forensic accounting service to help insurers and their clients quantify large financial losses.
The Forensic Advisory Services (FAS) division is new to the UK and is directed by Matthew Griffin.
“In today’s more inter-connected world, claims are becoming more complex and often result in loss scenarios that had not been contemplated when the policy was being negotiated and written,” Griffin said.
“For example, high degrees of interdependency can create significant upstream or downstream losses that were not anticipated at policy inception, and which can only be accurately quantified by experienced forensic accounting experts.”
The FAS will also analyse financial information to detect fraud in high value commercial, domestic and motor claims.
It will compete for business with forensic accounting firms which are not linked to loss adjustors.
Choosing Cunningham Lindsey’s service would give insurers and their clients better visibility of the claim, Griffin said.
It will also be the first time the loss adjuster tries to win non-insurance business in the UK.
“Historically we’ve been one dimensional in our product offering. Now we will be able to target new clients and new kinds of services such as litigation work,” Griffin added.
Cunningham Lindsey already has an FAS division in Australia and Singapore and plans to expand the service to the US.