A review is being conducted by the Financial Services Authority into the use of Private Investigators by UK Insurance companies. The regulator is concerned about the “potential for poor practice”. There are two main areas of concern: the use of private investigators as a tactical tool to drive reductions in valid claim payments private investigators …
Insurance fraud has increased by more than 600% between 2006 and 2012, Experian has found. Fraudulent claims submitted in 2012 showed an increase of 7% since 2011 but compared to 2006 they were up by a massive 600%. Out of every 10,000 claims and insurance applications submitted, 12 are now fraudulent. The increase in 2012 …
Rear end bumps account for one in four of all road accidents and the proportion is increasing year-on-year, according to recent statistics. The cost of whiplash, the most common injury in rear-end shunts, was estimated to be £1.9 billion in 2010 in the UK and accounted for 75% of all road accident injury claims. Insurers …
Following on from the recent excellent Loss Prevention Guide from Ageas, comes their guide to property protection as the ice and snow begins to finally melt away. You can download the THAW 2013 document (pdf) or read the small extract below.
When things go wrong, and you need to make a claim, you can rest assured that we will provide the professional support you need at a time you need it most. We have been dealing with insurance claims since 1975 on behalf of our clients and have a vast knowledge in dealing with such matters …
Damage caused by thieves stealing metal costs almost 20% of a property’s total value, says Zurich A surge in metal theft, mainly from empty properties, has lead to a 2500% increase in the cost of these types of insurance claims since 2004, Zurich has found. Zurich is one of the largest UK property Insurers and …
The Association of British Insurers (ABI) has launched a new initiative to help combat the rising number of fraudulent and exaggerated insurance claims. Called the ‘Insurance Fraud Register‘ it comprises of a database to hold the details of all known fraudsters. It will be operated by the Insurance Fraud Bureau. An ABI report in 2011 …
A Broker in Nottingham recalls a home visit where she found herself in hot water. Literally. “One claim which always sticks in my mind as being hilarious was when we visited the client’s house to collect premiums and renew policies, one of which was his household policy. “My husband (and business partner) was kindly given …
New research has revealed that insurance brokers have to fight harder to get claims paid during the economic downturn due to the stricter policy interpretations and anti-fraud systems by insurers. In the research from the British Insurance Brokers’ Association (BIBA), 67% of broker respondents said that they had to get tough with insurers on behalf …