Watch and art crime 2024

In this IIL claims seminar, attendees can hear Julian Radcliffe and Katya Hills speaking about watch and art crimes. In this session, you will learn that police hold vital data but lack the resources to investigate acquisitive crime and the structure to provide due diligence databases, so the victims of crime and their insurers are crucial providers to The Watch Register and allied services.

This presentation covers

• A short summary of the existing areas of partnership between the police and UK insurance industry (e.g. DVLA stolen vehicles, uninsured motorists, Insurance Fraud Bureau) and comparison with international cases
• Case studies of The Watch Register, The Art Loss Register, The Equipment Register
• Analysis of a Police Foundation report on police-private sector partnerships
• A summary of implications for the insurance industry, e.g. Government relations, taxation, public relations, loss ratios, risk management/prevention/data analytics/recoveries/ fraud detection
• Cost benefits; if major costs are paid not by insurers but by the due diligence users buyers/sellers/lenders the benefit to insurers is very high

Learning objectives

• Why insurers need to demonstrate a contribution to loss mitigation in all sectors
• For theft/fraud involving uniquely identifiable items, one searchable international database is required with losses reported by all insurers
• Losses from uninsured victims must be collected from them and all police forces to provide the full picture but insurers should get the credit for leading and using the service to attract more clients

Networking lunch will be provided.

Speakers

• Julian Radcliffe, Chair, The Art Loss Register
• Katya Hills, Managing Director, The Watch Register