InfoComm International is teaming up with Take1 Insurance to host a webinar on August 8, 2012 at 1 p.m. EST underscoring the growing threat that theft and insurance fraud poses to its member companies.
According to Scott Carroll, executive vice president of Take1 Insurance, the webinar entitled “Trust but Verify” will examine a real-world 2011 Take1 insurance claim in which a film equipment rental company took precautions with a new client and still had $255,000 worth of equipment stolen.
The webinar will explore the actions this company took to protect themselves and how the deception against them unfolded. Carroll will explore why equipment rental providers should consider taking some of these same precautions even though, in this case, they weren’t enough to prevent the theft.
In January 2011, the Miami, Florida based rental company, HD House, had $255,000 of high-end video production equipment stolen by a new customer who they thoroughly vetted. HD House was understandably shocked when they learned that this customer had stolen the identity of a reputable UK film producer, going so far as producing false identification and taking out a real insurance policy in order to commit fraud. Because the client bought his own insurance with the intent to commit fraud, it didn’t cover the theft.
HD House had signed on with Take1 just 90 days before the theft, and ended up receiving a full payment of $255,000. HD House’s previous insurance provider would only have been obligated to pay $140,000 of the loss.
“This kind of fraud happens more than people like to think,” Carroll said, “and InfoComm takes this issue very seriously on behalf of its membership. This InfoComm webinar will provide business owners with advice and insight on how to protect against fraud and equipment theft by thieves who use forged documents and can impersonate foreign businesses. Take1 and InfoComm want to make sure that every business has the tools and knowledge required to recognize suspicious clients and prevent theft or fraud before it happens.”
To register for the August 8 webinar, or for more information, please follow this link.