FSA to probe insurers’ use of investigators
Practice of hiring private investigators to look into claims subject of regulator review
The Financial Services Authority (FSA) has announced that it is conducting a review into the use of private investigators by insurance firms.
The regulator said that reports had suggested there was a “potential for poor practice”. Insurance companies using private investigators as a tactical tool to drive reductions in valid claim payments or private investigators being incentivised to produce findings that reduce payments on valid claims were two of the activities that the watchdog said would
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