Analysis

Sector must ‘start again’ to tackle ‘different beast’ of commercial fraud

By 2025-04-01T14:00:00

Fraud Charter Q125

’It wasn’t that long ago that the insurance industry came together to tackle major personal lines fraud, so it should be easy to do it again,’ says executive director

The insurance counter fraud sector finds itself in an interesting moment. 

Fraudulent activity is on the rise as a whole, with the latest ABI stats from September 2024 showing that in 2023, the cost of fraud had increased 4% year-on-year to reach £1.1bn. 

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