Fraud
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.
Experts warn that cost of living crisis could increase ghost broking cases
The sky-rocketing cost of living and the longer term economic effects of the pandemic could lead to an increase in ghost broking, experts have warned.
FCA warns of W.F. Fountain clone
The Financial Conduct Authority has warned of a clone using the name William Fountain Insurance Brokers.
IFB flags 17% increase in number of people being added to Insurance Fraud Register
The Insurance Fraud Bureau has warned that more than 5,000 people were added to the Insurance Fraud Register in the past 12 months.
FCA reveals D&I progress and strengthened targets
The Financial Conduct Authority has revealed progress towards its diversity and inclusion goals in its Annual Report & Accounts for 2021/22.
FCA warns of Borland Insurance clone
The Financial Conduct Authority has warned of a clone which is fraudulently using the logo of Assured Partners broker, Borland Insurance.
Ghost broker gets suspended sentence over £50,000 fraud
Rodney Bruce Van der Puye has been sentenced to 21 months imprisonment suspended for two years and ordered to complete 180 hours of unpaid work for acting as an illegal insurance intermediary.
FCA warned on nearly 2000 potential scams in 2021/22
The Financial Conduct Authority added 1966 possible scams to its consumer warning list between May 2021 and April 2022 the watchdog has confirmed as it updated on the progress of its data strategy.
IFB reveals new ‘crash for cash’ hotspots across UK
The Insurance Fraud Bureau has detailed the top 10 new areas targeted by ‘crash for cash’ gangs as it warned drivers to be vigilant of the scam.
Top 5: Most read on Insurance Hound in April and May 2022
Whitepapers from Insurance Post, Ansvar, AX, LexisNexis and SAS were most popular during the period.
Igo4 highlights benefits of robotic process automation
Igo4 has flagged how the implementation of robotic process automation has helped drive efficiency in the business and freed up staff to work on high value tasks over repetitive, monotonous operations.
Blog: Commercial insurance fraud risk rises when data is taken at face value
As home and motor insurance providers employ ever more sophisticated tools to help identify application fraud and crack down on claims fraud, the risk is that the smaller end of the commercial insurance market could be next in line for a serious uptick…
FCA warns on Broker Express clone
The Financial Conduct Authority has warned of a clone of Broker Express with fraudsters using or giving out details as part of their tactics to scam people in the UK.