Yankwitt LLP’s Investigative Deep Dive Yields $1.6 Million+ Recovery for Financial Services Client
Yankwitt LLP was engaged by a financial services company to file a claim with its insurer under its employee fraud policy. The client discovered that one of its employees had engaged in a years-long scheme to defraud it of almost $1.7 million by manipulating certain complex financial portfolios. Yankwitt LLP worked with the client’s executives to prepare a narrative proof of loss with supporting documentation that summarized the fraud and argued why the loss, stemming from the fraud, fit under its insurance policy. Yankwitt LLP then represented the client throughout the insurance company’s investigation of the claim, including preparing a follow-up document and information requests and representing bank employees during interviews with the insurer.
Ultimately, Yankwitt LLP’s exhaustive investigative work and meticulous documentation of the loss carried the day. The insurance company determined that the claim was covered under the policy and paid almost the entirety of the amount sought under the proof of claim. The insurer also adopted our argument that Yankwitt LLP’s legal fees were reimbursable under the policy.