Fraud Analysis
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News AnalysisInsurers warn directors as ‘failure to prevent fraud’ offence comes into force
’The direct scope of the offence applies only to the very largest companies, but the ripple effects will be felt throughout supply chains, bringing smaller businesses into scope as associated persons,’ says underwriter
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News AnalysisIs influencer insurance the next must-follow for protecting content creators?
‘Most influencers and content creators are really underinsured – if they’re insured at all,’ says commercial account executive
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News AnalysisMapped out: How data is helping insurers navigate risky postcodes
Improved data models could prove vital in dismissing postcode generalisations and providing a more granular basis for underwriting
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News AnalysisOpinion: Are brokers ducking ‘responsibility’ to tackle insurance fraud?
Insurer counter fraud expert calls out commercial brokers on lack of engagement in dealing with insurance fraud, emphasising that regulatory action may be the best way of inspiring greater anti-fraud collaboration
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News AnalysisBriefing: Striking at the heart of ghost broking by targeting illicit finance
The City of London Police’s Insurance Fraud Enforcement Department head, Nik Jethwa, explains how the unit is striving to make ghost broking an unprofitable business model
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News AnalysisSector must take counter fraud messaging and education ‘to another level’
Much more work is needed to truly educate the public on the dangers of insurance fraud – and Fraud Charter attendees agreed that this had to be collaborative
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News AnalysisBriefing: Ifed showcases suite of enforcement tools and partnerships in fight against fraud
City of London Police’s Insurance Fraud Enforcement Department has appointed a new detective chief inspector – he explains the unit’s activities in Q1 and how collaboration is already working to stamp out insurance fraud
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News AnalysisOpinion: Opportunistic fraud is thorn in sector’s side
Processes combating criminal insurance fraud are working well, according to industry experts, but opportunistic fraud is much more problematic due to its roots in genuine claims and policy applications
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News AnalysisSector must ‘start again’ to tackle ‘different beast’ of commercial fraud
’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
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News AnalysisTechTalk: Insurance fraud and the AI arms race
’Those insurers that don’t invest or haven’t invested in this sort of technology will be left behind, if they haven’t been already,’ says head of claims counter fraud
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News AnalysisBriefing: Ifed celebrates 2024 custodial sentence success as it firms up 2025 operations
Tom Hill, detective chief inspector at the City of London Police’s Insurance Fraud Enforcement Department, rounds up the department’s 2024 activity and spotlights its focuses for 2025
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News AnalysisIn Focus: New public-private partnership opens door to new counter fraud capabilities
’The government did talk about whether they might be able to do something about minimum levels of sentencing for convicted fraudsters,’ says chief fraud and financial crime officer
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News AnalysisIn Focus: How are ghost brokers utilising social media to commit fraud and what can be done to mitigate this approach?
Insurance Times asks industry experts how fraudsters are exploiting social platforms and what measures can be taken to tackle this growing threat
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News AnalysisBriefing: A day in the life of an Ifed detective sergeant
Detective sergeant Oliver Gent lifts the bonnet on what it is like to work within the City of London Police’s Insurance Fraud Enforcement Department
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News AnalysisOpinion: Is the new Labour government getting serious about insurance fraud?
Editor Katie Scott questions whether the new administration is making insurance fraud a priority, building on the foundations left behind by the Conservative party
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News AnalysisThe rising prominence of moped crash for cash fraud
‘This is the physical manifestation of that type of modern fraud that anybody can become a victim of,’ says detective inspector
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News AnalysisUptick in fraudulent tinnitus claims is ‘an inherent, major issue’ for motor insurers
With tinnitus injuries attracting anything up to £90,000 in claim payouts, squashing fraud in this area is vitally important in protecting both policyholder and insurer purse strings
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News AnalysisPet insurance sector can’t afford to let sleeping dogs lie where fraud risk is concerned
While the UK pet insurance market has grown rapidly in recent years, its ability to detect and combat fraud has not caught up – with the size of this problem not yet known
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News AnalysisBriefing: Sector must do more to protect SMEs from cyber bullies
Simply waving a digital warning flag is not enough – the insurance industry must take more proactive steps to support SMEs with cyber protection
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News AnalysisBriefing: Ifed adopts a partnership approach to moped crash for cash scams
Detective inspector Marek Coghill of the City of London Police’s Insurance Fraud Enforcement Department outlines how the unit is seeking to disrupt moped linked staged collisions
