Fraud
Post in print - 10 June 2010
Post reporter Amy Ellis outlines this week's major news stories from Post including: government move over midwives; brokers unite for covenant code; Cooper Gay IPO; Money Supermarket fraud action; and Hyperion flotation insight.
Call for travel database after fraudster is jailed
The travel insurance market needs a database similar to those in other markets in order to prevent travel insurance fraud.
Money Supermarket steps up fraud battle
Price comparison giant Money Supermarket is rolling out a revamped home insurance website, which includes improved measures to combat fraud.
Cunningham Lindsey helps convict travel claim fraudster
Cunningham Lindsey said its specialist fraud investigations team has helped bring a prolific travel insurance fraudster to justice.
Fraud - World Cup warning: Eye on the ball
Major sporting events are a magnet not only for fans but also financial criminals. Mark Jones explains how South Africa has a secret weapon to bolster its defences as the 2010 football World Cup kicks off.
Postbox: Validation is not onerous
Groupama Insurances counter-fraud manager Stephen Teeling's recent article 'Getting to know you' raises a valid argument that the insurance industry should follow the example of the major banks and put in place industry-wide practical validation measures…
Insurance Fraud Awards 2010 - call for entries
Entries for the Insurance Fraud Awards 2010 are now open. Now in their second year, these prestigious awards recognise the general insurance industry’s efforts to combat and prevent fraud and encourage the spread of best practice and excellence across…
SFO drops AIG case
The Serious Fraud Office has dropped an investigation into the UK operations of AIG Financial Products.
Comment - Motor Fraud: The right result
Operation Genarch finally came to a conclusion last month after four years. Mihir Pandya details the investigation strategy, the challenges faced and lessons learnt.
CL heralds major loss fraud initiative
Cunningham Lindsey’s has claimed that its major loss investigators have saved insurers more than £7.1m in fraudulent claims in the year since their launch.
Law reports: Case underlines high threshold needed with fraud allegations
Noble v Owens (Court of Appeal — 18 March 2010)
New IFB member
Markerstudy has become the latest company to join the Insurance Fraud Bureau.
FSA corruption warning
The Financial Services Authority has warned of brokers exposure to corruption in its review of anti-bribery and corruption systems and controls.
Markerstudy joins the IFB
Markerstudy insurance has become the latest company to join the Insurance Fraud Bureau in its fight against organised insurance fraud.
Fraud - Customer knowledge: Getting to know you
With identity fraud a growing problem, Stephen Teeling argues the case for insurers to follow banks in validation techniques and ask for more information.
Fraud - MOJ reforms: Against the clock
With the MoJ's 15-day timeframe for insurers to make liability decisions on third-party injury claims from road accidents now in force, Veronica Cowan examines whether the increased time pressures risk rendering the reforms little more than a cheat's…
Biba 2010 countdown: Heartland of the business
As the final days of countdown to the 2010 Biba conference begin, participating claims and insurer professionals reveal the part they hope to play in proceedings.
Industry rails against SMS claims farming
Insurers have reacted angrily to the growing number of unsolicited claims farming text messages being sent by claims management firms.
New IFB director seeks new income streams
Generating more income for the Insurance Fraud Bureau will become the top priority of newly appointed director Glen Marr, according to IFB chairman David Neave.
GAB raids Teceris for counter fraud staff
Claims company GAB Robins has appointed two specialists from rival adjustor Teceris to its counter fraud and investigation services.
Chartis' Marr appointed IFB director
The Insurance Fraud Bureau has named Chartis vice president of financial crime Glen Marr as its new director.
Former RBS director joins Cifas
Chris McKee, former technical services director of Royal Bank of Scotland Insurance, is joining the Board of Cifas – The UK’s Fraud Prevention Service – as an independent director.
View from the top: Last of the icy conditions?
It's been a hard winter for many — but particularly for insurers. Claims losses have been rising for several years and the recession isn't helping either. CIFAS, the UK fraud prevention service, says that 2009 saw a 55% increase in false insurance claims.
QBE wins crash for cash case
A collaboration between the counter fraud teams of QBE and law firm DWF has seen two people given a suspended sentence and one a sentence of conditional discharge.