The ABI has given the go-ahead for an Insurance Fraud Register (IFR) following a trial period.
A start date of early 2012 has been pencilled in by the ABI, which approved the register through its General Insurance Council on June 30.
The register will allow insurers to share information on fraudsters who move from firm to firm deploying their scams. Aviva, AXA and RSA were part of the trial and are likely to be part of the register.
There is expected to be involvement from the Information Commissioner’s Office, which will define what constitutes fraud. All policyholders will be informed that their details can be passed between insurers for fraud purposes.
Meanwhile, the GIC has also agreed to a dedicated anti-fraud unit which will be partially funded by insurers. The unit is to be based at the City of London Police’s offices. The unit should be operational sometime during next year.
The insurance industry has been encouraged to set up the unit having seen the success of the collaboration between the Association of Chief Police Officers and the Motor Insurers Bureau in recovering stolen vehicles.
The insurer-funded Plant and Agricultural National Intelligence Unit (PANIU) has also been successful in recovering stolen plant equipment through dedicated police officers. A number of insurers including Allianz and NFU have played key roles in making PANIU a success.
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