Message #26 From:
NewsBot Date: December 13, 2006 08:08:00 AM
GLOI News GlobalOptions Combines Two Fraud Units, Forming New Investigative Division to Serve Insurance Industry
NEW YORK--(BUSINESS WIRE)--GlobalOptions Group (OTCBB: GLOI) announced that it is combining its two
industry-leading investigative units, CBR and Hyperion Risk. Effective
immediately, the Nashville-based company will be known as GlobalOptions
Fraud & SIU Services.
The new GlobalOptions division, GlobalOptions Fraud & SIU Services, will
now offer the market a broader range of services to help its client
companies manage their insurance fraud. Included among GlobalOptions
Fraud & SIU Services capabilities are: claims and background
investigations services; on-scene accident investigations; corporate
investigations; surveillance; fraud reporting; regulatory compliance;
and vendor manager. In addition, the company’s
proprietary program, GlobalTrak™, will allow a
company to link case information to large loss reports, authority
requests or client approval requests, and to access, share and run a
variety of quantitative reports using up-to-the-minute data.
The new division was formed following the acquisition of Hyperion Risk
by GlobalOptions in August, 2006, when it was folded into CBR, an
insurance investigative company led by Halsey Fischer. Florida-based
Hyperion Risk was led by founder Frank Pinder, who now joins Halsey
Fischer in the management of the new entity as Executive Vice President.
“It makes absolute sense for us to combine
capabilities,” said Halsey Fischer, President
of GlobalOptions Fraud & SIU Services and former president of CBR. “The
integration of our services ensures the most comprehensive range of
fraud management and SIU services in the industry, with each of our
former company’s areas of expertise
complementing the other.”
Frank Pinder, the founder and former president of Hyperion Risk, agrees
with Fischer’s assessment. “Each
company had its strengths individually, but now we have the potential to
become the power-house service provider in this space –
a win-win for us and for our clients.”
“This is consistent with our corporate
strategy of integrating our core competencies into a unified solutions
provider which allows us to maximize our capabilities to both current
and future clients,” said Harvey Schiller,
CEO of GlobalOptions Group. “By renaming this
company, we want to underscore the depth of experience and expertise we
offer the marketplace.”
About GlobalOptions Fraud & SIU Services
A division of GlobalOptions Group, GlobalOptions Fraud & SIU Services is
a regionally-managed, national provider of anti-fraud program support
services, including surveillance, fraud protection, investigations and
vendor management. The company’s web-based
GlobalTrak technology revolutionizes SIU reporting, communications and
program management, providing clients with real-time case and program
information and up-to-the-minute quantitative reports. Headquartered in
Nashville, TN, GlobalOptions Fraud & SIU serves insurers, law firms,
third party administrators, governments and corporate entities
nationwide.
About GlobalOptions Group, Inc.
GlobalOptions Group, with headquarters in New York City and offices in
16 cities, is a provider of high-end risk assessment and mitigation
services to Fortune 1000 corporations, governmental organizations, and
high-profile individuals throughout the world. GlobalOptions Group’s
services currently include risk management and security, investigations
and litigation support, and crisis management. These engagements take
GlobalOptions Group staff around the world and are typically
highly-sensitive engagements where GlobalOptions Group is interacting
with senior leaders in corporations and governments. Its overall mission
is to identify, evaluate, assess, prevent and correct issues that may
threaten people, organizations or strategic initiatives for corporations
or governments. Additional information can be found at www.globaloptionsgroup.com.
Statements in this press release regarding the company's business
that are not historical facts are "forward-looking statements" that
involve risks and uncertainties. The company wishes to caution readers
not to place undue reliance on such forward-looking statements, which
statements are made pursuant to the Private Securities Litigation Reform
Act of 1994, and as such, speak only as of the date made. To the extent
the content of this press release includes forward-looking statements,
they involve various risks and uncertainties including the successful
integration of acquired businesses and revenue run rates.Certain
of these risks and uncertainties will be described in greater detail in
GlobalOptions Group’s' filings with the
Securities and Exchange Commission. GlobalOptions Group is under no
obligation to (and expressly disclaims any such obligation to) update or
alter its forward-looking statements whether as a result of new
information, future events or otherwise.
