Bureau will not branch out into liability scams, strategy to reveal
The Insurance Fraud Bureau will continue to focus on motor fraud rather than branching out into tackling new types of scams, its chair has revealed.
But IFB chair David Neave, outlining the key points of his organisation’s new strategy to Insurance Times, said it would not be expanding into new product lines but seeking instead to ensure that existing capacity was being used most efficiently to tackle the industry’s big problem - motor fraud.
Neave, who is also director of insurance at Co-operative Financial Services, said: “If you do a risk assessment across the whole industry, while there might be risks around ‘slip and trip’ type claims, the key issues still confronting CEOs are motor and how we tackle that.”
“That’s our core area and that’s what we need to focus on rather than spilling out into new areas.”
Allianz called last year for the IFB to dedicate extra resources to tackling employers and public liability claims fraud following a recent rise in such scams.
He added that 2010-11 had seen growth in new forms of fraud, such as application scams.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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