The value of fraudulent insurance claims uncovered by insurers rose to a record £1.3bn in 2013, up 18% on the previous year, according to figures released in May by the Association of British Insurers.
Editor Stephanie Denton in conversation with the ABI's property, fraud and specialty lines head Aidan Kerr about fraud
It found insurers detected the equivalent of 2279 bogus or exaggerated insurance claims a week, with fraudulent motor insurance claims the most expensive.
Against this backdrop, Association of British Insurers' property, fraud and specialty lines head Aidan Kerr responds to questions over whether insurers are improving at detecting fraud, if there is a rise overall, whether the industry would like to see more crimes leading to successful prosecution and stricter sentencing in the courts and whether the message is getting through to the public that insurance fraud is not a victimless crime.
Read about the other videos in the Claims edition:
Absolute Partnership's technical director Colin Hawes discusses The Claims Portal.
Sarah Mallaby, head of motor claims at Allianz Insurance, on whiplash.
Gary Hindley, insurance services manager at Signet, reveals the intricacies of emotive jewellery claims.
Flood Re interim chief executive Tom Woolgrove explains the timetable for Flood Re.
David Bingham, chair of the British Association of Rehabilitation Companies, debates the value on dispensing with low-value personal injury payouts in favour of pure rehabilitation
A huge well done to all involved with organising our Remembrance Day event on Friday, including our Corporate Real Estate team. One of them, Ibrahim, took this incredible footage of poppies dropping as he (along with others) leaned (safely!) over the gantry to let them go. pic.twitter.com/pSbapkWBBR— Lloyd's (@LloydsofLondon) November 12, 2018
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