Fraud News – Page 10
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NewsPerception that extortion cover fuels cyber crime is ‘misguided’ – CFC Underwriting
The firm’s cyber development leader believes ‘the last option we want is to remove extortion coverage’, but that applying sub-limits could be a viable route forward
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NewsGuidewire backs draft Online Safety Bill extension to include financial scams
Guidewire’s chief innovation officer says that cumulatively, financial scams risk the reputation of the industry
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NewsAviva uncovers escalating GI fraud by organised gangs and chancers
Insurance claims tainted with fraud amounted to more than £113m last year
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NewsTwo in three home insurance buyers manipulate truth to get cheaper cover
LexisNexis Risk Solutions’s senior claims manager says that home insurers need to ’tackle the common misconception that they actively try to avoid paying out claims’
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NewsCNA Hardy allegedly paid $40m to ransomware attackers
The firm said in a statement that the investigation is ongoing, but it has shared some information regarding the ransomware attack in March
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NewsClaims Excellence Awards finalist 2021 Q&A: SBS’ AI fraud claims bot leads to 24% increase in withdrawn claims
The winners will be revealed at a free virtual ceremony on 27 May 2021, but delegates need to register in advance
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NewsClaims Excellence Awards finalist 2021 Q&A: Cazana’s Companion tool gives vehicle claims teams the ‘full picture’
The winners will be revealed at a free virtual ceremony on 27 May 2021, but delegates need to register in advance
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NewsClaims Excellence Awards finalist 2021 Q&A: Horwich Farrelly’s counter-fraud program expected to save insurers £18m
The winners will be revealed at a free virtual ceremony on 27 May 2021, but delegates need to register in advance
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NewsSide hustle spike causes motor claims concern - ThingCo
Delivery driving, in particular, carries a greater amount of risk than vehicles insured for social, domestic and pleasure purposes
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NewsFOIL weighs in on new regulatory framework for draft Online Safety Bill
Insurers should ’consider the application of the Bill to insured technology companies providing regulated services from outside the UK’
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NewsIFB inks landmark partnership with Shift Technology
The new system will be launched next year and will use artificial intelligence to mitigate the evolving fraud landscape
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NewsKatie Price’s ex-husband jailed over bogus car insurance claim
The insurer argued that he should be jailed for ’knowingly giving a false statement’
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NewsSpoof ‘click-to-dial’ ads for claims management companies rife
Insurers have been warning customers about the dangers of ‘click-to-dial’ spoof ads for years
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NewsAllianz reveals £65.8m worth of insurance fraud in 2020
Cavity wall insulation claims remain a heavy focus for fraudsters
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NewsWhiplash reform rules are ‘cumbersome’ and reflect ‘a big change coming’ – Sabre
The insurer’s chief executive further believes policyholders may not reap the expected premium discounts following the implementation of part one of the whiplash reforms this May
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News360Globalnet warns UK motor insurers of unforeseen data ‘quicksand’ from OIC portal
The insurtech has warned that free text data entry in the new Official Injury Claim portal could lead to insurers being overwhelmed by data
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NewsRevealed: Claims Excellence Awards finalists 2021
A record number of entries across 18 categories have made it onto the shortlist for Insurance Times’s Claims Excellence Awards this year – did your firm make the cut?
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NewsBroker Direct and Proficient Insurance roll out data channel to support vehicle repairer networks
The pair’s long-term focus is to push more messages automatically to customers, to avoid policyholders having to proactively log in online or make a call
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NewsPrevisico and Zurich to plug flood risk for big corporate customers
Surface flood water has been deemed the ‘biggest risk’ in the UK, affecting three million people
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NewsDAC Beachcroft saves Aviva more than £12m in 2020 by identifying fraudulent motor claims
2020 also saw ‘significant changes’ in the types of motor claims fraud
