Brokers under threat from internal fraud
High profile cases show the need for better controls and importance of fidelity guarantee insurance
The recent court cases about internal fraud committed by ex-staff of Willis Towers Watson and the British Insurance Brokers’ Association (Biba) shed some stark light on employee theft within the insurance sector.
Investigations at Willis Towers Watson led to former broker Simon Higginson, who worked at the firm, and his partner Lee Willis being jailed in August over a conspiracy to defraud £1.7m by lying about commissions.
In the same month, former Biba accountant Gurmukh Shehri was jailed
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