Insurance Fraud Enforcement Department (IFED)
False Lego claim dismantled brick-by-brick
A man has been jailed for 28 months following an investigation by the Insurance Fraud Enforcement Department into several fraudulent insurance claims, including false reports of stolen Lego sets.
How is the fight against ghost brokers evolving?
Following a 52% increase in ghost broking in 2024, Tom Luckham explores how the fight against fraudulent insurance policies and their facilitators is changing.
Ghost brokers ordered to pay back £376,000
A court has granted confiscation orders against two men who were convicted for their roles in a ‘ghost broking’ motor insurance scheme.
Man jailed for £100K ‘crash for cash’ plot against LV
A man has been jailed, and two men have been sentenced, for an unsuccessful ‘crash for cash’ plot, which could have cost LV General Insurance £102,827.
AI should be used to fight crash for cash fraudsters
The increase in crash for cash incidents involving motorbikes is far more dire than it initially seems, warns Roi Amir, CEO of insurance technology company Sprout.ai, who argues the solution is to fight artificial intelligence with AI.
Fraudster who repeatedly targeted RSA is jailed
A man who repeatedly filed fake home insurance claims to RSA for broken phones, laptops and televisions using a variety of false identities, has been jailed for 20 months.
Zurich’s Clayton calls for travel insurance claims fraud database
Scott Clayton, head of claims fraud at Zurich, said the industry needs to share travel insurance data and create a database to crack down on fraudulent activity.
Man sentenced over 45 bogus claims for broken TVs
Cross-industry checks have led to a man who took out 87 home insurance policies and made 45 bogus claims for broken televisions getting a suspended sentence.
Opportunistic fraud claims on the increase in 2023
Sedgwick has reported an increase in low-value and opportunistic claims fraud in 2023.
Ex-RSA employee jailed for stealing and selling customer data
A former RSA employee, who stole customer details and sold the information to claims management companies, has been jailed.
‘Crash for Cash’ fraudsters shifting focus to rural and residential areas
The City of London Police’s Insurance Fraud Enforcement Department has said ‘crash for cash’ scammers are evolving their tactics after reported cases of opportunistic fraud soars by 61%.
Value of average insurance fraud hits record £15,000
The Association of British Insurers has revealed the value of the average fraudulent claim in 2022 rose 20% to £15,000.
Ifed reports surge in opportunistic fraud
The City of London Police’s Insurance Fraud Enforcement Department has reported a growing number of people making fraudulent insurance claims as a result of cost-of-living pressures.
Home Office urges insurers to ‘be more ambitious’ in tackling fraud
Duncan Tessier, director of economic crime at the Home Office, has warned the insurance industry that it cannot tackle the “staggering growth” in fraud without public-private partnerships.
Ghost broking accounts for third of insurance fraud investigations
Ghost broking now makes up over a third of the cases being investigated by the Insurance Fraud Enforcement Department at the City of London Police and there has been a surge in the number of scammers using Instagram to try and con consumers.on consumers.
Ifed secures first Serious Crime Prevention Order
The Insurance Fraud Enforcement Department has obtained its first ever Serious Crime Prevention Order against a fraudster who scammed insurers and lawyers out of nearly £250,000, and its DCI is targeting more orders in the future.
Why property insurers are struggling to control claims costs
Analysis: Sam Barrett explores how inflation, increased labour costs plus material shortages are pushing up property insurance claims costs and why working with loss adjusters to remove frictional cost is essential.
London Ghost broker sentenced; Just Travel buys Alpha Underwriting; Coalition and We Fox raise $650m combined; and WTW acquires Glasgow firm
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
Spotlight: Application fraud - Ghost busting – email intelligence can help combat insurance application fraud
Email addresses are a unique global identifier that could play an increasing role in combatting application fraud, argues James Burton, senior director of insurance product management for UK and Ireland, LexisNexis Risk Solutions