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 insurance claims.
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.
For further information:
Scott Wollney, Chief Executive Officer of Atlas Financial Holdings, Inc. at 847-700-8600