Related-Party Analysis
Definition
A forensic accounting investigation stream that traces whether assets declared destroyed in a fire reappeared at connected entities, or whether insurance proceeds were directed to associated parties, indicating a broader fraudulent scheme.
Related terms
- Financial Distress Analysis
- A forensic accounting analytical stream that reconstructs the financial trajectory of an insured entity in the period before a fire, using audited...
- GAP Insurance
- Guaranteed Asset Protection insurance that covers the difference between a vehicle's current market value and the outstanding finance balance; a vehicle with...
- Insurance Fraud Enforcement Department (IFED)
- A specialist unit within the City of London Police, funded by the UK insurance industry, that investigates insurance fraud including arson fraud,...
- Inventory Replacement Arson
- A business arson pattern where the fire is set to trigger an insurance-funded replacement of ageing or obsolete equipment, rather than to...
- Lease Termination Arson
- A business arson pattern where a fire is set to render premises unusable, triggering a destruction or force majeure clause in a...
- National Insurance Crime Bureau (NICB)
- A US non-profit organisation funded by insurers that operates an intelligence portal for law enforcement and insurer data sharing on insurance fraud,...
- Over-Insurance
- A pre-fire red-flag indicator where the insured value of a property or business substantially exceeds its current market value or replacement cost,...
- Special Investigation Unit (SIU)
- A dedicated anti-fraud team within an insurance company, required in the US by the Insurance Fraud Prevention Model Act, in the UK...
- Warehouse Clearance Arson
- A business arson pattern where a fire is set to destroy slow-moving, obsolete, or overstated inventory and collect the insured value of...
Explained in
- Insurance Fraud, Business Arson and Financial InvestigationA forensic accounting investigation stream that traces whether assets declared destroyed in a fire reappeared at connected entities, or whether insurance proce...