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  • Dean Smith

Basic Asset vs. Comprehensive Asset Checks

Asset checks are a crucial tool and recovery procedure used by insurance carriers when they have disbursed funds for damages after an auto accident. For subrogation purposes, our clients need to find out what assets the claimants possess to recover those funds.

When deciding to run an asset check, it is important for us to inform you the difference between a basic asset check and a comprehensive asset check. A basic asset search will provide our clients with confirmed addresses of an individual, possible employment, spousal name, and ownership details of the confirmed property. Our databases run a claimant’s date of birth and social security number to discover the above named information. ICU’s investigative staff also supplements our database work with an Internet Profile Report (social networking sites). If employment of the claimant is established, it is imperative to the investigation and assists our clients in their decision to subrogate. If derogatory information is developed during our search, this can also help make financial decisions on behalf of the claimant.

A comprehensive asset is a more in-depth search that includes a personal profile of the claimant, Internet Profile Report, and the following to supplement the basic information (addresses of an individual, possible employment, spousal name, and ownership details of property) that has already been developed: ICU’s investigators run a plaintiff litigation search to obtain suits, judgments, bankruptcies, and liens. Our databases allow us to uncover possible motor vehicles including boats and recreational vehicles, litigations records, tax assessor records, real property ownership, UCC filings, corporate affiliations, AKA’s, associated social security numbers, and professional licenses. These findings will assist our clients in their decision whether or not to move forward with subrogation.

As a note, if the location of a claimant is an issue and a driver’s license number or tag is available, please provide this information as it is a useful tool to this investigation. Contact ICU to run these options first before ordering the asset search of your choice.

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