Increased fraud by rogue intermediaries says survey
A survey carried out by law firm Pinsent Masons has revealed that the general insurance market feels concerned about the risk of fraud posed by intermediaries. It found that a third of respondents were unsure or felt that the systems and controls they have in place to combat fraud may not be good enough.
The survey of insurers and brokers was carried out at a recent 'Rogue broking' seminar hosted by Pinsent Masons. The Seminar provided practical guidance to insurer and broker clients faced with responding to the emergency situation of an individual broker who may have diverted premiums to his own or his business' use, written unauthorised policies and exceeded the scope of his authority.
Garon Anthony, a lawyer in the Insurance Sector team at Pinsent Masons said: "The risk of fraud by 'rogue'
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