IFB warns on sharp rise in ghost brokers
The Insurance Fraud Bureau has launched a national campaign with the Association of British Insurers and City of London Police to raise awareness of the dangers of ghost broking, with the fraud growing by over 50% in two years.
Figures revealed around 115,000 fraudulent motor insurance policies were detected by the IFB in partnership with the insurance industry between 2023 and 2024, with ghost brokers believed to be responsible for thousands of cases.
It estimated fraudulent insurance applications cost the UK economy over £1bn a year.
Too good to be trueUrsula Jallow, director at the IFB, said: “New drivers are caught out by ghost brokers because they face higher premiums and have had less experience in purchasing
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