- Jan 20, 2013
- 11,816
- 13,655
Maybe I'm wrong, but from my limited experience working in the insurance industry, this has fraud written all over it. I've seen the same scenario (although maybe not on this level) a million times before, and I wouldn't give these people the time of day.
Here is how it works:
1) Find a bullshit reason to inflate the value of your resource. (I.e. it may only be a £500k property but the big football team wants to buy it so it should be worth £500M).
2) Pull out before the insurance company have a reason to deflate the value of the resource you have insured and thus pay you less money (I.e. court case forcing you to sell to the big football club).
3) Burn the property and take the insurance money based upon your own valuation and strike it rich
Unfortunately (Sorry fortunately), this never works. Funnily enough, big insurance firms who hire lots of top notch lawyers do not generally fall into such easy traps. The insurance companies investigators will do a far more thorough job than the police as they have money on it.
Don't get me wrong, it may be a rogue Spurs fan, but this scenario fills the A-Z of insurance con jobs.
Good post, and thanks for your input.
But is there always this degree of conflict of interest associated with it? That's the key that provides more protection, especially as this case has garnered international attention due to the popularity of football itself. Unless the investigators can without doubt identify who the arson(s) was/were, and what their intentions were, the owners can rather easily dish this off on it being an aggressive fan of the club rather than themselves.