GlobalOptions Group Signs Three-Year Contract with Benchmark Insurance Company
NEW YORK--(BUSINESS WIRE)--Mar. 5, 2009-- GlobalOptions Group, Inc. (NASDAQ: GLOI), a leading provider of domestic and international risk mitigation and management services, today announced that its Fraud & SIU Services unit has signed a three-year contract with Benchmark Insurance Company to serve as a preferred provider of investigative services for the Company. GlobalOptions will provide SIU and surveillance services to assist in exposing potential insurance fraud.
“GlobalOptions’ Fraud & SIU division has a proven track record in helping companies manage risk and identify fraud across all areas of the insurance spectrum. We are confident they will be an asset to all of our fraud detection teams,” said Dan Fosterling, Vice President of Benchmark.
GlobalOptions will use its enhanced GlobalTrak™ proprietary enterprise risk mitigation and management solution as part of the service offering to Benchmark. It offers a full suite of risk management tools, including evidence processing and management and audio and video surveillance file management. It also provides client companies with contacts and status reports in real time, allowing more efficient internal management of assignments, evidence, and reporting.
“GlobalOptions Group continues to set the standard in Fraud & SIU for the insurance industry,” said Dr. Harvey Schiller, Chairman and CEO of GlobalOptions Group. “We are very proud of the work we do, and our expertise continues to translate into expansion of our business and additional contracts.”
About Benchmark Insurance Company
Benchmark Insurance Company, since 2003 a subsidiary of TREAN Corporation, is an admitted carrier licensed in 47 states, plus the District of Columbia. It is a multiple line property and casualty insurer and enjoys an A-VI rating from A.M. Best, with a surplus of approximately $40 million.
About GlobalOptions Group, Inc.
GlobalOptions, with headquarters in New York City and offices in 16 cities, is an integrated provider of risk mitigation and management services to government entities, FORTUNE 1000 corporations and high net-worth and high-profile individuals throughout the world. We enable clients to identify, assess and prevent natural and man-made threats to the well-being of individuals and the operations of governments and corporations. In addition, we assist our clients in recovering from the damages or losses resulting from the occurrence of acts of terror, natural disasters, fraud and other risks. We deliver risk mitigation and management services through four business units: Preparedness Services; Fraud and Special Investigations Unit Services; Security Consulting and Investigations; and International Strategies. Additional information can be found at www.globaloptions.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 1995, 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, projected financial information and the continued successful implementation of the Company's business strategy.
Certain of these risks and uncertainties are 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.
Source: GlobalOptions Group, Inc.
Lippert/Heilshorn & Associates PR Contact: Jules Abraham, 212-838-3777 jabraham@lhai.com or IR Contact: Jody Burfening, 212-838-3777 jburfening@lhai.com
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