Recoveries

Particularly in the current climate, an important consideration for insurers is whether or not to seek recovery of any payments already made, and/or costs when they are awarded. In the past, insurers may have written off money owed to them due to the difficulty in recovering it - often leaving honest policyholders to foot the bill.

In order to enable insurers to recover monies owed to them by claimants, Keoghs has set up a dedicated recoveries team. The team works with insurers to make sure that they receive as much of the monies they are owed as possible. Within the last 18 months, the team has recovered in excess of £1.3m for our clients.

Following receipt of a ‘liquidated judgement’ (i.e. a judgement for a specified amount of money either as damages, costs or both) against an individual then a County Court Judgement (CCJ) is registered against them, placing significant barriers against the individual obtaining credit. However, this will not necessarily force that individual into repaying the amount owed. We can then act on behalf of the insurer to proactively enforce the judgement from the day it is granted.

There are a number of potential options that we can use in these circumstances, including:

  • Bailiff / High Court enforcement officers
  • Orders to obtain information
  • Charging orders
  • Third party debt orders
  • Attachment of earnings orders
  • Bankruptcy

Determining the right method of enforcement for each case will depend on the insurer’s recovery strategy, the value of the debt and the information gathered on the debtor. As a result of our intelligence-based approach to tackling fraud, we have access to a range of tools that can be used to locate a debtor and determine whether they have sufficient means to make enforcement a cost-effective option.

Once the method of enforcement is determined, we will undertake the recovery on behalf of the insurer, providing regular updates on the progress of the file.



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