« Previous | Next » | All Messages |  GLOI Message Board Home | recommend post |  Ignore Poster

GLOI News GlobalOptions Joins Forces with Work First Casualty Insurance to Combat Insurance Fraud

NEW YORK--(BUSINESS WIRE)--GlobalOptions Group (OTCBB: GLOI) announced that its GlobalOptions Fraud & SIU Services division has entered into a formal agreement to serve as an SIU provider to Work First Casualty Insurance.

Work First Casualty Company is a broad-based property and casualty insurance carrier created to offer a workers compensation insurance program to service the temporary staffing industry. Work First has developed its business by insuring the workers compensation exposures of temporary staffing companies with a guaranteed cost program in several targeted states. Currently, Work First holds a license to write workers compensation in 38 states and Puerto Rico.

GlobalOptions Fraud & SIU Services will serve as the SIU provider, handling vendor management, regulatory compliance, and fraud training and reporting. “We have the resources and experience to assume a key role in helping Work First Casualty manage its entire fraud claims process,” said Frank Pinder, Executive Vice President of GlobalOptions Fraud & SIU.

“We are pleased to join together with GlobalOptions,” said Ron Kifer, President of Work First Casualty. “By working as our SIU provider, GlobalOptions enables us to minimize the need for an in-house team, which saves resources, but also provides a skilled and experienced alternative.”

About Work First Casualty Company

Work First Casualty Company is a broad-based property and casualty insurance carrier. Work First was created to offer a workers compensation insurance program to service the temporary staffing industry. Work First will develop its business by insuring the workers compensation exposures of temporary staffing companies with a guaranteed cost program in several targeted states. Currently Work First holds a license to write workers compensation in 38 states and Puerto Rico.

About GlobalOptions Fraud & SIU Services

Established in 1995, GlobalOptions, a part of the GlobalOptions Group, is a nationwide provider of risk mitigation support services including surveillance, fraud protection, and threat assessment. The company, headquartered in Nashville, Tennessee and licensed in 39 states, primarily serves insurers, insurance defense attorneys, government municipalities, and corporate entities. GlobalOptions is a national investigation firm that provides professional investigative surveillance, security and safety solutions to the insurance industry, law firms and corporations, providing investigation, surveillance, security and safety services.

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.