Fraud
Allianz Trade launches protection against employee fraud and external scams
Allianz Trade has launched a standalone fraud insurance product to help businesses combat the post-Covid-19 pandemic rise in employee fraud and external scams in the UK.
Tech entrepreneur launches kit to combat HNW fraud and underinsurance
Tech entrepreneur Jonathan Garnett has gone live with a system to help insurance firms combat fraud and underinsurance in high-net-worth assets.
FCA issues warning on UKGlobal Broking Group clone
The Financial Conduct Authority has warned that fraudsters have been trying to scam people using a clone of Howden-owned UKGlobal Broking Group.
Blog: How email addresses can help the crackdown on ghost broking
Brokers have an important weapon in the fight against application fraud – the humble email address – as LexisNexis Risk Solutions director Louise Johnson explains.
Calls for tougher social media regulation amid ‘ghost broking’ explosion
An explosion in ‘ghost broking’ is fuelling policy fraud, leading to calls for tougher regulation on social media to protect vulnerable customers.
Zurich UK detects 31% increase in fraudulent property claims
Zurich UK detected a 31% increase in fraudulent property claims and a 7% rise in fake casualty claims in 2022, the insurer calculated.
Zurich flags rise in commercial crime claims as firms face average losses of £140,000
Theft at work in England and Wales has jumped by a fifth (19%), according to data released by Zurich.
Brokers call for more support to help fight insurance fraud
More than three quarters of brokers surveyed by RSA said they needed more resources in fighting fraud, which is on the rise.
FCA warns of Surrey broker clone
The Financial Conduct Authority has warned of a clone pretending to be Montgomery Kent Insurance Brokers.
Allianz Commercial reports detected fraud up 11.2%
Allianz Commercial has revealed it detected £70.7m worth of insurance fraud in 2022, up 11.2% on the £63.6m uncovered the year before.
FCA warns of broker clone
The Financial Conduct Authority has warned of a clone claiming to be independent broker Stonebridge Corporate.
Headline makers: December 2022
The key stories from the past month all in one place.
FCA outlines rogue financial promotions clamp down
The Financial Conduct Authority has proposed new measures to stamp out illegal, unfair or misleading financial marketing.
Increase in scamming methods as ransomware frequency decreases- CFC’s Lindsay Nelson
Cyber development leader at CFC Underwriting, Lindsey Nelson, has warned the insurance industry not to ignore other ways of scamming as ransomware decreases in frequency yet still dominates the headlines.
Ghost broking still a major problem as Aviva’s application fraud rises 16%
Aviva’s application fraud is on the rise, with ghost broking making up 15% of all policy fraud.
Broker insurance fraud cheat given suspended prison sentence
Lois Cartridge from Bournemouth, an insurance account handler at a broker, has been given given a custodial sentence of 16 weeks, suspended for 12 months, and ordered to pay costs of over £20,000 after exaggerating the severity of her whiplash claim.
In Depth: On the road again - haulage under the spotlight
Too few drivers, Brexit redtape and more theft have put the haulage sector under immense strain, but specialists say there are some positive signs showing the sector can keep on trucking, facilitated by expert brokers and insurers as Rachel Gordon…
FCA ramps up intervention on rogue financial promotions
The Financial Conduct Authority has revealed that it intervened to amend or withdraw 4,151 financial promotions between July and September.
Broker Week 2022: A fine balancing act
Faced with customers expecting easy, seamless digital access, but amid rising levels of cybercrime, brokers need to balance security with convenience. Valerie Hart looks at what brokers can do to ensure trust remains at the heart of their proposition.
UK Broker Awards 2022: Claims Team of the Year
The Clegg Gifford & Co claims team impressed the judges with a stellar year, not least for their passion and ingenuity when it came to reducing spend while keeping customer service at the top of the agenda
James Dalton leaves the ABI to join the MIB
The Motor Insurers' Bureau has made a series of new senior leadership hires including the director of general insurance policy at Association of British Insurers, James Dalton.
FOI reveals increase in cyber breach incidents reported to FCA by brokers
A Freedom of Information request by Insurance Age has revealed that the number of cyber breach incidents reported to the Financial Conduct Authority has increased for insurance intermediaries but dropped for regulated firms altogether.
Markerstudy recruits new head of fraud from LV
Markerstudy has appointed Clare Lunn to a new role of head of fraud.
FCA warns of HDI Global clone firm
The Financial Conduct Authority has alerted the market and consumers to a clone of authorised insurer HDI Global SE.