Accident Exchange Nominated for two prestigous awards
Accident Exchange are delighted to be nominated for two prestigious awards as the insurance industry awards season kicks off.
Following on from the highly publicised Private Prosecution of Adam Islam and Mohammed Abu Khayer in March, Accident Exchange have been selected as Finalists in the prestigious Insurance Times Claims Excellence Awards and Shortlisted for the Claims Magazine Awards, both for the respective Counter-Fraud categories.
Accident Exchange made the headlines in March following a landmark private prosecution led by sister company Asset Protection Unit (APU) which saw a motor fraudster sentenced to 18 months in prison at Snaresbrook Crown Court.
Having pled guilty to fraud by false representation, Adam Islam admitted to crashing his fake Ferrari in a bogus claim which paid out £29,000.
The incident occurred on 12th September 2014, when Islam, of Southwold Drive, Barking, Essex, crashed his Toyota MR2, which was dressed up to look like a Ferrari F430, into his friend’s hired Audi A1 in suspicious circumstances.
With insurance fraud low on the list of police priorities, and Insurance Fraud Enforcement Department (IFED) rules dictating fraud must be reported by an insurer or the police, the action led by motor fraud experts APU proved the only option to recover the £29,000 paid out by Islam’s insurers.
Islam and his accomplice Abu Khayer convinced his insurer LV= to pay out £29,000 after claiming his car had broken down on a bend before being hit, and that he did not know the driver. As the at-fault vehicle was insured by the hire company, Abu would incur no personal cost by accepting liability for the accident and could split the hefty insurance pay-out with Islam.
Already in a replacement hire car organised by his accomplice, Mohammed Abu Khayer following the accident, Islam tried to claim for another credit hire car from a separate company. This was quickly detected by Hill-Dickinson’s Netfoil database, the largest of its kind used to prevent, detect and manage insurance fraud.
APU, appointed by sister company Accident Exchange to take up the case, deployed its team of forensic experts and former Police officers to quickly establish that the vehicle that hit Islam’s fake Ferrari was driven by Abu, a friend who had hired the vehicle just days before the crash.
Further investigation found that Islam had recently failed to sell his car online for £30,000, prompting further suspicion of likely insurance fraud.
With all the evidence gathered, APU teamed up with commercial law firm Hill-Dickinson LLP to launch a private investigation into the case. Hill-Dickinson’s expert Advocacy Team, led by in-house counsel, Mark Stanger worked with the APU team, conducting the advocacy at all Court hearings.
Islam’s accomplice, Khayer, also received a 12 month custodial sentence suspended for two years, and was ordered to compensate Accident Exchange, his hire company, and its insurer, totalling more than £10,000.
After Islam and Abu Khayer pleaded guilty on 16th March, Judge Peters QC commented on the private prosecution, saying: “I see no reason why organisations should be treated as suffering less harm than if it were an individual.”
Accident Exchange Director of Operations, Scott Hamilton-Cooper said “We are delighted to be recognised by two prestigious award organisations and it’s a testament to the hard-work which went in to securing this highly profiled landmark prosecution. These prosecutions, along with the nominations for these awards, should send a message to any would-be fraudster who considers using our services for fraud”
The Insurance Times Awards take place in late May before the Claims Magazine Awards in June.