Fraud News

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New research to fight against ‘crash for cash’ fraudsters

Differing damage patterns claims to show clear evidence of a genuine collision and a staged collision

Fraudulent

Watchstone counterclaim accuses Slater & Gordon of using ‘illicit back channel’ in £637m acquisition

Slater & Gordon has since 2017 been claiming against Watchstone to recoup the whole £637m it paid for the group’s professional services division in 2015

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Allianz posts improved fraud savings for H1 2019

Allianz’s fraud manager, James Burge hails a “fantastic result” after bringing the application and claims fraud teams together

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FCA warns of Close Brothers clone

The regulator has warned of a clone charading as the premium finance provider

Ghost broker

Application fraud dominates as average tops £12,000 per case

However, one fraud worth £1.2m was detected, and around 1300 fraudulent cases are exposed every day

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FCA clamps down on CMCs’ ‘unscrupulous’ false advertising

Martin Milliner of LV= says CMCs have gotten away with unscrupulous activities “for too long”

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Driver ordered to pay £29,000 after phantom Allianz claims

Driver could have claimed over £5,000 in compensation from accident had he not supported additional fraudulent claims

Fraudulent

Woman pays out £10,000 for fundamentally dishonest Ageas claim

She had claimed in excess of £40,000 for various injuries, but was undone when the Weightmans intelligence team uncovered images of her mountain hiking on social media

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Fraudster sentenced after lying about losing partner’s engagement ring

The fraudster was caught sending a text to a friend, admitting his plan to exploit the insurer

Zurich fraudster jailed

Jailed claims handler defrauded employer for £390k to fund cocaine addiction

The handler has been jailed for two years and worked for a major insurer at its complex claims offices in Fenchurch Street

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Fraud Analysis

cate wright BAE

BAE aims to take the fraud fight to the next level

Technology is helping turn the tide against insurance fraud, but the battle against evolving threats continues

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Brokers reveal biggest challenges to selling cyber cover

With the risk of cyber crime ever increasing and evolving, the threat to UK businesses remains high but cyber insurance uptake is still comparatively low compared to the US, Insurance Times looks at the challenges brokers face selling the product and how to overcome the problem

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Fraud Charter: ‘Help us stamp out bad CMCs’ – FCA’s plea to the industry

Frustrations peaked at the Insurance Times Fraud Charter last month over lack of communication from the Motor Insurers’ Bureau over the Litigants in Person portal, while the FCA updated the room about claims management company regulation

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Cyber is a reputational disaster waiting to happen - Mactavish CEO

Mactavish chief executive predicts a world where the reputation of cyber insurance “gets worse” if the placement remains “not good enough”

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