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Forensic & Insurance News
Contributed by specialist insurance legal practice Berrymans Lace Mawer
Case StudiesSmall Claims
Our Small Claims Service is a niche facility designed to help insurers settle small third-party claims for loss of earnings/profit. These claims generally involve self-employed or business claimants (such as taxi drivers, etc) and are of lower value than the claims normally associated with forensic accountants. We currently handle some 3,000 claims a year in the £1,000 to £100,000 range.
We work with many of the UK's leading insurers and legal firms.
Results show that we achieve average settlement savings of 70% of the losses claimed. To put that figure into context, claims audits for clients reveal that insurers generally achieve settlement savings of only 15-20%. Hence, we help our clients to achieve additional savings of £millions each year.
The results and savings are validated by Management Information reports showing settlement details for all cases on a monthly/quarterly basis.
The Small Claims Service is a complete claims settlement service including telephone support and the provision of training seminars to help claims handlers develop their knowledge and skills in settling such claims. Our objective is to develop our service to meet our clients' needs; we have recently introduced systems and reports to identify possibly fraudulent claims, in order to assist our clients in meeting FSA requirements.
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