GlobalOptions Joins Forces with Argo Group US to Combat Insurance Fraud

ORLANDO, Fla.--(BUSINESS WIRE)-- GlobalOptions announced that it has entered into a formal agreement to serve as the Special Investigations Unit (SIU) provider to Argo Group US, Inc., and each of its following subsidiaries: Argonaut Insurance Company, Argonaut Midwest Insurance Company, Argonaut Southwest Insurance Company, Select Markets Insurance Company, Argonaut Limited Risk Insurance Company, Argonaut Great Central Insurance Company, ARIS Title Insurance Corporation, Colony Insurance Company, Colony National Insurance Company, Colony Specialty Insurance Company, Rockwood Casualty Insurance Company, and Somerset Casualty Insurance Company.

GlobalOptions will serve as the SIU provider handling regulatory compliance, fraud training and reporting, and the investigation and identification of suspected fraudulent insurance activities. “We have the resources and experience to assume a key role in supporting Argo Group US, Inc.’s fraud compliance and investigation process,” said Frank Pinder, President and CEO of GlobalOptions.

“We are pleased to partner with GlobalOptions, the clear leader in developing innovative SIU solutions,” said Barbara Sutherland, Senior Vice President, General Counsel and Chief Claims Officer for Argo Group US, Inc. “By relying on the type of knowledge and experience possessed by GlobalOptions and the impressive portfolio of SIU services that GlobalOptions will provide to Argo Group US, we will be positioned to more effectively respond to SIU regulatory requirements while underscoring Argo Group’s fraud identification and investigation efforts.”

About Argo Group US

Argo Group US, Inc. is a member of Argo Group International Holdings, Ltd. (NasdaqGS: AGII), an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group’s insurance subsidiaries are A.M. Best-rated ‘A’ (Excellent) (third highest rating out of 16 classifications) with a stable outlook, and Argo’s U.S. insurance subsidiaries are Standard and Poor’s-rated ‘A-‘ (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.

About GlobalOptions

GlobalOptions, Inc., headquartered in Orlando, FL, with regional offices in Chicago, Philadelphia, and Sacramento is the national leader in providing outsource SIU solutions and a wide variety of investigative products and services to insurance carriers, self-insured corporations, and third-party administrators. GlobalOptions provides quality field investigations, instantaneous access to public records, comprehensive SIU programs, strategic anti-fraud planning, innovative educational courses, integrated Internet-based technologies and investigative consulting services. For more information, visit www.globaloptions.com

GlobalOptions, Inc.Kevin F. McGinn, 407-859-0997
Chief Financial Officer, Treasurer and Secretary

Source: GlobalOptions Group