Employee Theft of Client Funds – UK Professional Services Practice
The Insured's employee stole funds from two bank accounts containing the firm's clients funds.
Dishonesty of Employee and SIM Swap Fraud – Bank in the United Arab Emirates
The insured are a large bank in the United Arab Emirates. As much as USD 1.5million was stolen from customer accounts.
Will there be a sharp rise in the discovery of crime losses following the pandemic?
Hetle Soni comments on a BBC News article relating to an employee accused of skipping work for 15 years.
ASL supports Healing Venezuela charity
ASL are delighted to have been able to support Healing Venezuela in their first virtual Rum Experience held last month.
How will the pandemic affect emerging markets?
Helen Meredith comments on an article in Insurance Day on insurer reserves and the spectre of emerging market debt default
What has prompted an upturn in investment management claims?
Insurance claims made by investment managers and administrators post-pandemic and referred to us at ASL are increasing.
We comment on International Women’s Day
The gender diversity statistics for our industry are still behind the curve; however, the article concludes that there is light at the end of the tunnel and I think that’s right.
Robert Lloyd talks to Brian Alexander, Group Practice Leader for GrECo Services
Brian Alexander, Group Practice Leader Financial Institutions, talks with Robert Lloyd, Director at ASL about trends in Crime & Cyber claims, the effects of Covid-19 on claims and the neutral and objective position of the loss adjuster.
Will fraud be bigger than Covid-19 for trade credit?
In our last newsletter we commented that we had seen an increase in claims resulting from fraud – particularly involving commodity traders. According to the GTR, this was also the topic which most concerned trade credit professionals in 2020.
Interview with our new Managing Director
Helen Meredith has stepped up as Managing Director of ASL. In this interview she is asked about her thoughts on this new position
Social Engineering – Recent Trends
Frauds involving social engineering are continuing to result in substantial losses. This short article sets out some recent trends we have seen at ASL.
UK literary agent hit by ransomware attack
The insured, a UK based literary agent, were hit by a ransomware attack in the days following the initial Covid-19 lockdown. As with many SMEs, the insured were still trying to navigate the challenges of working from home, and this made the attack particularly disruptive.
ASL announces Helen Meredith as new Managing Director
A law graduate and chartered accountant, Helen joined ASL in 2002 and has been a board director for the last 14 years. Helen takes over from Michael Walter, who has stepped down to a consultancy role.
Impropriety by GM – Colombian Subsidiary of Healthcare Provider
A European-owned multinational with offices worldwide. The General Manager had founded the business himself and had sold out to the multinational.
ASL announces Michael Walter’s retirement as Managing Director
It’s certainly well deserved, after more than 30 years with ASL and nearly 24 years as Managing Director.
Dishonesty of Employee – Hong Kong Branch of a Management Agency
A US-owned agency with offices worldwide. The Hong Kong branch was previously independent and had been sold to the international agency in the 2000s.
Have insurers turned a crisis into an opportunity?
Key participants in the credit and political risk market have been telling us that they are not seeing the anticipated tsunami of claims as a result of Covid-19.
Claim Trends From Our Dubai Office
More evidence of claims relating to credit, cybercrime and PI across the Middle East and Africa, as well as the Far East
SME Update – Cybercrime and Business Interruption
It’s been a busy few months for the cyber team here at ASL. Why? Largely because of an increasing number of cybercrime and business interruption claims notified by SMEs, especially in the UK.
Potential impact of Covid-19 on Bankers’ Blanket Bond & Commercial Crime Policies
Clients have asked us about the potential impact of Covid-19 on Bankers’ Blanket Bond and Commercial Crime policies. Here are our thoughts on some of the factors that could lead to increased criminal activity.
Adjusting to Covid19 – Loss Adjusting at ASL During and After the Pandemic
In the 12 months prior to the pandemic our team travelled to over 40 countries to adjust claims; we explain how our work has changed now that we are all confined to home.