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Blogs from February 2015

Couple Sentenced For Insurance Fraud

insurance defraud rsaAn Insurance Fraud Enforcement Bureau (IFED) investigation has discovered that a couple have been submitting fake claims for their stolen valuables. The two fraudsters have been sentenced at Bury Magistrates' Court today for attempting to submit fraudulent claims to Legal & General and RSA in relation to stolen valuables.

The couple pleaded guilty on two accounts of fraud by false representation on the 23rd January after an investigation by the IFED. Mrs Guilfoyle made a fraud[...]

James Savery, 27 February 2015Read More...

Companies Needing 650 Million In Cyber Insurance

hacker insuranceA number of companies across the globe have raised their concerns in relation to their cyber insurance policies. Some firms are going to need as much as £650 million in cover as the costs of hacker attacks rise. Insurance experts have issued the warning but a lot of firms are struggling to acquire even a tenth of this amount.

The maximum amount of cyber attack that a company can currently acquire is £325 million but a majority of businesses have trouble obtaining more than £12[...]

James Savery, 19 February 2015Read More...

Corporate Insurance Policies Continue To Be abused

corporate insuranceThe Asset Protection Unit (APU) has been encouraging corporate fleets to make use of their technology even if the driver admits fault. A large number of drivers are regularly abusing their corporate insurance policies by admitting fault for accidents that they shouldn't be according to recent studies by the APU.

APU have managed to sniff out an ever increasi[...]

James Savery, 12 February 2015Read More...

Lloyds Raise Insurance Fraud Budget To 12 Billion

lloyds insuranceThis type of story is quickly becoming recurring news in the insurance sector. Lloyds Banking Group are increasing their budget once again for their customers who have been miss-sold various types of loan insurance over the past decade. The banking group have had to add hundreds of million more pounds to their budget in order to cover these costs, taking their total to over £12 billion.

James Savery, 04 February 2015Read More...

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