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Vericlaim employs some of the highest profile, dual-qualified chartered accountants/chartered loss adjusters in the UK and internationally, who have extensive experience of dealing with loss of money and fidelity guarantee claims for a wide variety of private and public sector entities. We recognise that in many cases an empathetic approach produces a swift, optimum result while identifying cases that need a more robust involvement to maintain momentum.
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CircumstancesWe routinely meet with all parties (including the alleged miscreant as appropriate and the police) to build a picture of the case. Some investigations into the methodology of theft can be complex – we are practised at summarising complicated financial transactions in the form of an easily accessible report.
Proposal FormWe consider whether the system of checks set out on the proposal form or confirmed in annual renewals are carried out in practice and whether the underwritten risk is the same as the actual risk.
Policy LiabilitySweeping up issues arising from the proposal form, we also consider the design and operation of the control systems and comment on any issues arising as relevant. This will include consideration of internal audit reports prior to the incident where available, board minutes, etc. Formal statements will commit important evidence to the written record as appropriate.
Legal liability issues will also be considered, particularly where the status of an individual as an employee needs to be taken into account, or where the activities undertaken by a miscreant might be considered to fall completely outside the terms of their employment.
QuantumDual-qualified as loss adjusters and chartered accountants, our practitioners are ideally placed to consider quantum, both in overall terms and also in identifying any areas of a claim that represent loss arising from the activities of a miscreant but are not necessarily covered by the policy (interest losses being a prime example). There are also claims relating to theft of assets rather than to theft of money and we work closely with colleagues who can provide direct input to the benefit of the claim – chartered surveyors and engineers have been involved in fidelity claims in the past.
RecoveryFidelity guarantee claims are unique in that there is always a recovery potential, at least in the form of the individual misappropriating the funds. Recoveries might embrace accrued pension rights, other assets held by the miscreant, banks, auditors, suppliers or others.
Rather than leave consideration of any recovery until the end of a claim, we ensure these issues are considered in parallel with the ongoing investigation. Necessary freezing orders ensure that assets which might become the subsequent target of a recovery action remain available.
Vericlaim employs leading liability specialists, whose views help direct recovery actions as appropriate.
Damian Glynn BA (Hons), FCA FCILA FUEDI ELAE FIFAA
Director, Head of Financial Risks
T: +44 121 200 8682 M: +44 7920 877 658E: [email protected]
Contact us To learn more about our services, please contact:
Vericlaim UK Ltd, 1 Alie Street, London, E1 8DE +44 207 709 4040 www.vericlaim.co.uk
Kevin Cooper BSc (Hons), FCA, FCILA, FUEDI-ELAE
Loss Adjuster T: +44 20 7709 4025 [email protected]
Ian Wallace BSc (Hons), ACA, FCILA
Director T: +44 113 387 9035 [email protected]
Juan Carlos de Val MA, CPA (equivalent)
Loss Adjuster T: +44 20 7709 4067 [email protected]
Robert Ford ACA, MAAT, Cert CILA
Loss Adjuster T: +44 121 200 8680 [email protected]
Adrian Cartwright-Bain FCA, FCILA, FUEDI-ELAE, FIFAA
Director, Head of Finance T: +44 161 905 8522 [email protected]
Corinne Lowe BSc (Hons), FCCA
Loss Adjuster T: +44 161 905 8513 [email protected]
Team Leader
Damian Glynn BA (Hons), FCA FCILA FUEDI ELAE FIFAA
Director, Head of Financial Risks T: +44 121 200 8682 [email protected]
Meet the team
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