Fraud News – Page 9
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NewsGeneral insurance market faces ‘fundamental changes’ – EY’s Tony Sault
Tony Sault, EY’s head of general insurance, tells Insurance Times what challenges the insurance industry might face over the next few years following the fallout from the pandemic, the Supreme Court business interruption case and the FCA’s pricing review
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NewsControl systems are in cyber criminals’ crosshairs, warns report
The London market has been warned it needs to better understand the rising threat of cyber attacks to industrial and manufacturing facilities, as criminals switch their focus to find new ways to extort and disrupt businesses
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NewsFraudster to be sentenced at Crown Court for failing to disclose information to broker
The 49-year-old man has been charged with ‘dishonestly failing to disclose information to make a gain for himself’
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NewsCyber insurers see ‘strong growth’ for coverage after spate of online scams amid lockdown
Despite this, insurers must have adequate capacity to cover evolving cyber fraud
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NewsInsurers inadvertently fueling ransomware rise, warns former national cyber security chief
Insurers are covering ransom payments, which in turn helps the proliferation of cyber crime, says former NCSC chief
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News'One insurance scam per minute' during pandemic, warns IFB
Insurance fraudsters are using the pandemic to make money from unsuspecting consumers
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NewsLexisNexis Risk Solutions launches email address validation tool to combat application fraud
The tool is designed to streamline the quote process, free up insurer resources and assist with identifying fraudulent policies
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NewsZurich manhole injury fraudsters jailed
Pair tried to defraud Zurich insurance after claiming they sustained injuries from falling down an open manhole
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NewsFCA ‘still worried about’ poor behaviour by claims management companies
Industry experts notice a more aggressive approach from CMCs, including cold calling, but the FCA confirms it is looking to stamp out bad habits in this section of the insurance market
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NewsIncreasing demand seen for personal cyber insurance
A fifth of survey respondents said they were interested in buying a cyber product
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NewsThe Big Question December 2020: What challenges and opportunities do you expect for 2021?
At the end of a challenging year that included the FCA test case, the switch to remote working and ongoing problems in classes such as professional indemnity, all against the backdrop of the Covid-19 pandemic, Insurance Times asks the industry what obstacles and opportunities they foresee for the year ahead
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NewsReputation is ‘hidden’ claims cost insurers must mitigate
A customer’s bad claims experience and the overall reputation of the insurer can have a correlating impact on claims costs, agreed expert panel
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NewsPersonal injury sector 'laying down arms' amid Covid crisis - LV=
The insurer’s GI claims director explained that collaboration has trumped the traditional adversity that typically reigns within the personal injury sector
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NewsMan jailed for half a year after ‘blatant’ fraud
Man made 22 exaggerate claims after a road traffic accident in 2014
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NewsTesco Underwriting claims handler pleads guilty to fraud
The accused siphoned off claims payments into his own account, court heard
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NewsWindow cleaner confesses to fundamental dishonesty over personal injury claim
Insurer Admiral teamed up with law firm DAC Beachcroft to investigate suspicious circumstances following a road traffic accident
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NewsUndetected fraud amounts to £500m predicts Pact Global
The firm’s research reveals that 59% of respondents would commit fraud because they think they can get away with it
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NewsArdonagh data breach reported to Information Commissioner
Firms are required by law to report breaches within 72 hours
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NewsSlovenian woman cuts off own hand in insurance fraud attempt
The culprit and her boyfriend were hoping for a €380,000 payout from life and injury insurance policies across five different insurers
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NewsTechnology & Innovation Awards finalist 2020 Q&A: SBS’s AI bot solution clamps down on fraud and claims exaggeration
There are just eight days to go until the winners for Insurance Times’s Tech & Innovation Awards 2020 will be revealed at a virtual ceremony on 17 September
