Fraud Analysis

labrynth

Brokers reveal biggest challenges to selling cyber cover

With the risk of cyber crime ever increasing and evolving, the threat to UK businesses remains high but cyber insurance uptake is still comparatively low compared to the US, Insurance Times looks at the challenges brokers face selling the product and how to overcome the problem

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Fraud Charter: ‘Help us stamp out bad CMCs’ – FCA’s plea to the industry

Frustrations peaked at the Insurance Times Fraud Charter last month over lack of communication from the Motor Insurers’ Bureau over the Litigants in Person portal, while the FCA updated the room about claims management company regulation

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Cyber is a reputational disaster waiting to happen - Mactavish CEO

Mactavish chief executive predicts a world where the reputation of cyber insurance “gets worse” if the placement remains “not good enough”

Ghost broker

Fraud Charter: Prevention is always better than cure

Educating consumers to stop seeing insurance as a grudge purchase would go some way to cutting fraud. But so too might be pointing out the consequences of a conviction

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'Expect a major shift in fraud post-reforms,' former IFB boss warns

Jason Potter also predicts a “significant spike” in traditional fraud ahead of the implementation date next year

IFB updates technology

Automation promises better fraud claim detection, but do we still need humans?

Can an algorithm make spotting fraudulent claims easier, and by doing so does it complement or eradicate the human element?

Whole Table

Fraud Charter: No progress on the LiP Portal for months

Medco’s Susan Brown says Medco and the MIB is being held in limbo by the MoJ

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December 2018 Big Question: What is coming in 2019?

The biggest names in the industry give their predictions for what lies ahead in the next 12 months

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Driver ordered to pay £29,000 after phantom Allianz claims

Driver could have claimed over £5,000 in compensation from accident had he not supported additional fraudulent claims

Fraudulent

Woman pays out £10,000 for fundamentally dishonest Ageas claim

She had claimed in excess of £40,000 for various injuries, but was undone when the Weightmans intelligence team uncovered images of her mountain hiking on social media

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Fraudster sentenced after lying about losing partner’s engagement ring

The fraudster was caught sending a text to a friend, admitting his plan to exploit the insurer

Zurich fraudster jailed

Jailed claims handler defrauded employer for £390k to fund cocaine addiction

The handler has been jailed for two years and worked for a major insurer at its complex claims offices in Fenchurch Street

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