Hibernian investigators to combat fraud

SPECIALISED fraud investigators are to be recruited by Hibernian Insurance in a bid to combat fraud and claims exaggeration.

Managing director Gary Owens said the move was part of a drive to reduce insurance costs for small businesses.

“False claims and exaggerated claims are one of the main factors contributing to rising insurance costs. The problem is that everyone ends up paying for this through increased premiums. Furthermore, there are no legal penalties for taking a false or exaggerated claim to court. Hibernian is trying to nip this problem in the bud by appointing our own in-house investigator who will catch these bogus claimants before they ever reach the courts,” he said.

This move follows an announcement by Hibernian at the Small Firms Association annual conference last Tuesday that it plans to introduce an internet-based risk management package to assist all its small business customers to assess their individual business risks in a proactive way and reduce insurance costs. “It is a means for small business owners, who frankly have more to be doing than poring over the minutiae of health and safety legislation, to ensure that their business is up to scratch. Our system is web-based, user-friendly and absolutely non-technical. It provides guidance on all aspects of health and safety, fire management, risk assessment, training and incidence recording and ensures a business is compliant with all its legal obligations,” said Mr Owens.

The package is available free to all Hibernian business customers, and any company that agrees to use it is entitled to an automatic 10% premium cut. Further discounts of up to 25% are also potentially available for companies that are seen to manage risks proactively and accept 5,000 excess on each claim made. “I am committed personally to ensuring that Hibernian works incessantly to provide value for money. With the appointment of our in-house investigator and the new risk management package developed in conjunction with the Small Firms Association, we hope that costs will come down”