Fraud
Ghost broking arrest made
Officers from the Metropolitan Police yesterday, 5 January, arrested a 31-year-old man on suspicion of conspiracy to defraud and money laundering offences.
FSA fines and bans director £25 000 for part in £2m London market fraud
The Financial Services Authority has fined Barry Williams £25 000 and banned him from working in regulated financial services for his part in a scheme that defrauded leading London market insurers of more than £2m.
Penny Black's insurance week
While Penny amused herself over the festive break by taking in David Hasselhoff in pantomime, Crawford UK and Ireland CEO Benedict Burke took in the more rarefied and cultural surrounding of the National Theatre to watch Alan Ayckbourn's Season's…
Broking focus - Bribery Act: On the right side of the law
London market brokers transacting across international boundaries need to revisit their risk and compliance provision in the face of draconian new UK bribery legislation, reports Ralph Savage.
View from the top: Ending whiplash woes
Whiplash claims are at the core of the spiralling cost of motor insurance and it is incumbent on insurers to get to grips with the problem.
Fraud - travel database: Share and share alike
Though shared services are seen as important cost-cutting tools, initiatives have often failed to deliver projected savings. Richard Barrett explains why this happens and how insurers can maximise their returns.
LV fraud consultant joins IFB
A consultant from LV’s financial crime unit has been seconded to the Insurance Fraud Bureau for six months.
ABI: household now the number one target for insurance fraudsters
Home insurance is now the number one target for insurance fraudsters according to the Association of British Insurers.
FSA fines hit record high
The Financial Services Authority handed down a record-breaking £88.4m in fines in 2010 (to 20 December).
Legal update - professional negligence: A strong defence
The illegality principle may rear its head if a second dip of the recession takes hold and insolvency practitioners engage in civil claims. Tony Hill and Kate Thompson examine the issues professional negligence insurers face from this line of attack.
IFR pilot crucial to fight against fraud
A successful pilot of the Insurance Fraud Register is vital in the fight to change perceptions that insurance fraud is victimless, an industry expert has stressed.
Fraud: cognitive questions test sees 51% success rate
Fraud investigation firm the Innovation Group has revealed that a partnership with a university psychology department has produced a 51% success rate in detecting home insurance claims.
Gangsters face premium hikes under police plan
Strathclyde Police has began revealing the names of gangland figures to insurance firms and life assurers, according to a report in the Herald.
GPs report surge in exaggerated personal injuries
The medical profession has witnessed a rise in patients exaggerating the extent of their injuries in order to claim personal injury compensation, research from LV has revealed.
IFB warns motorists over fronted policies
The Insurance Fraud Bureau has warned that any drivers found fronting their car insurance policies will be caught.
Markerstudy extends CRIF partnership to boost fraud prevention
In collaboration with Synectics Solutions, CRIF Decision Solutions has enhanced the fraud prevention platform utilised by the Markerstudy Group to provide a consolidated view of risk for any policy application or claim.
CL launches liability fraud unit
Cunningham Lindsey has set up a dedicated unit to tackle the increase in liability fraud.
Questgates wins Allianz contract
Allianz has awarded Questgates a long-term contract for the provision of motor fraud investigation services.
Legal update - effective surveillance: Surveillance strategies
Surveillance techniques are on the increase as a tool to prevent to fraud. Mark Wilcox reports on a recent case that highlights the need for such activities to be carried out by skilled professionals.
Law report: Time-barred case dismissed
This law report was contributed by national law firm Berrymans Lace Mawer.
Claims Club news: Under-25s are ill-informed
One in 20 drivers under the age of 25 does not know it is illegal to drive without insurance. That was one of the shock findings of a recent Which? survey shared by its insurance expert Dan Moore at the Claims Club last week.
Quartix supplies Coverbox with pay as you drive telematics systems
Vehicle tracking providers, Quartix, have signed a contract with Coverbox, which is expected to take delivery of 1200 of the company’s latest tracking devices a month – a total of approximately 15 000 units over the first 12 months.
Zurich extends global fraud initiative to include general insurance
Detica has announced that Zurich Insurance has extended the global implementation of its Detica Net Reveal solution to include its general insurance business.
Towers Watson: Motor insurance model needs to change
Conditions in the UK and European motor insurance market are so difficult that many insurers will have trouble gaining profitability unless a new business model can be developed.