CHICAGO, Feb. 27, 2012 /CNW/ - Atlas Financial Holdings, Inc. ("Atlas"
or the "Company"; TSXV: AFH) announced today that a pilot program with
Injury Sciences LLC ("Injury Sciences") was initiated in first quarter
2012. The objective of this pilot is to identify and evaluate
potentially fraudulent claims through the use of Injury Sciences'
forensic technologies applied to taxi, limousine and paratransit
As an industry leader in specialty commercial automobile insurance
segments, Atlas is well positioned to determine how this breakthrough
technology can be applied in the Company's niche. Injury Sciences'
software and services are the result of over 25 years of research and
analysis of vehicular collisions and injury outcomes. Their data and
scientific methodology has been used in other insurance segments to
effectively fight fraud and support a common objective of all insurance
companies, to pay claims that are legitimately owed.
This pilot will be the first time Injury Sciences experience in the area
of biomechanical data and low impact injury causation will be focused
on the taxi, limousine and paratransit insurance segment. Should the
pilot prove to be successful, Atlas will use the results to improve
underwriting profitability and benefit the Company's policyholders
through expense control and fraud avoidance.
The primary business of Atlas is commercial automobile insurance in the
United States , with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs,
non-emergency paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its operating insurance
subsidiaries American Country Insurance Company and American Service
Insurance Company, Inc. Atlas' operating insurance subsidiaries have
decades of experience with a commitment to always be an industry leader
in these specialized areas of insurance.
Additional information about Atlas, including a copy of the Company's
most recent financial statements and MD&A, can be accessed on the
Canadian Securities Administrators' website at www.sedar.com or through the Company's website at www.atlas-fin.com.
About Injury Sciences LLC:
Injury Sciences LLC is headquartered in San Antonio, Texas, and is the
leader in software and services that provide claims professionals with
objective, scientific analytics and information for use in the
evaluation of an auto claim. Injury Sciences' team of leading forensic
scientists has conducted extensive research regarding human response to
auto collision events. Many of these studies have been published in
peer-reviewed scientific publications and are internationally
recognized and referenced in the scientific community.
Additional information about Injury Sciences can be found on their
website at www.injurysciences.com.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding the Company
and its subsidiaries and businesses. Such statements are based on the
current expectations of the management of each entity. The words
"anticipate", "expect", "believe", "may", "should", "estimate",
"project", "outlook", "forecast" or similar words are used to identify
such forward looking information. The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding the
insurance industry, economic factors and the equity markets generally
and the risk factors discussed in the "Risk Factors" section of our
Management Discussion and Analysis and Annual Report for the year ended
December 31, 2010 . No forward-looking statement can be guaranteed.
Except as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and the
Company and its subsidiaries undertake no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Atlas Financial Holdings, Inc.
For further information:
Scott Wollney, Chief Executive Officer of Atlas Financial Holdings, Inc. at 847-700-8600