Identity theft hits a record high and insurers are being targeted

August 31st, 2017

Padlock & CodingIdentity theft is never far from the headlines and now the fraudsters are using stolen identities to take out insurance policies. A recent report by the leading fraud prevention service Cifas has revealed that identity fraud is at an all-time high with nearly 500 identities being stolen every day. They also recorded a staggering jump of 10,000% in the use of stolen personal details to purchase insurance products. Read the rest of this entry »

How to spot car insurance fraudsters at work

May 12th, 2017

Car fraudDespite the government and the insurance industry’s best efforts; car insurance fraud continues to climb. Research by a leading insurer has revealed a 30% jump in fraud over the past 12 months and it’s law abiding motorists who are paying the price. Read the rest of this entry »

Insurance fraud clampdown pays dividends

September 30th, 2016

Fraud alert warning signIf you thought insurance fraud was a victimless crime: think again. Insurance fraud is estimated to cost a staggering £1.3 billion a year and it’s something that the industry takes very seriously. The Association of British Insurers have published a report on the ongoing clampdown and the good news is that life is getting much tougher for the cheats. Read the rest of this entry »

Ghost brokers haunt unwitting motorists

July 15th, 2016

GhostPolice are urging motorists looking for insurance deals to keep their wits about them and be wary of fraudsters lurking in the darkest corners of the web. A phenomenon nicknamed ‘ghost broking’ is a growing problem as phantom insurance sellers get increasingly sophisticated. Read the rest of this entry »

Identity theft rises by more than 30%

May 29th, 2015

Lock & keyIdentity theft is a growing problem that everybody needs to take much more seriously. A recent report by a leading fraud prevention agency has revealed the number of victims of identity theft rose by nearly a third in the first quarter of 2015. If the trend continues it’s estimated that more than 128,000 Britons will have their identity stolen by the end of the year. Read the rest of this entry »

Government Measures to Drive Down the Cost of Motoring

October 28th, 2013

govt measuresThe government has announced a raft of measures aimed at cutting the cost of motoring. Quoteline Direct looks at what they have got planned and asks whether their figures really add-up.

Motorists have been having a tough time of it recently so any help from the government is welcome and the latest round of pledges should make a real difference, although some more than others. Read the rest of this entry »

Insurance scams hit record high of £1billion a year

October 8th, 2013

Rip-off insurance claims have hit more than £1 billion a year for the first time. Figures released by the Association of British Insurers make for grim reading and include the following:

  • Insurers detected 124,292 bogus or exaggerated insurance claims, the equivalent of 2,390 a week. The value of these frauds was £1.1 billion or £21 million uncovered every week
  • The most common scam is home insurance fraud, with 51,000 bogus claims worth £95.5 million detected in 2012
  • 42,700 fraudulent motor insurance claims costing £614 million were uncovered
  • The value of fraudulent claims doubled between 2007 and 2012, while detected frauds increased by a third.
  • The Insurance Fraud Bureau, an industry-funded organisation, is helping police investigate on 60 criminal gangs involved in £75 million of insurance scams

Read the rest of this entry »

Don’t get Caught out by Flash for Cash Scammers

August 20th, 2013

cash for flashYou’ve heard of Crash for Cash, but have you heard of Flash for Cash? Motorists are being warned of a new scam where criminals will flash their lights at a junction in order to let a vehicle out; then deliberately crash into it to make an insurance claim.

Modern motoring can be combative at times and a show of manners by other road users can be a welcome surprise. However, it seems that the insurance cheats are determined to take away such simple pleasures by changing our driving habits. Read the rest of this entry »

Identity Theft Explained

April 22nd, 2013

Thumb printIdentity theft is a growing crime that affects 1.8 million people in the UK and is estimated to cost the economy an eye-watering£2.7 billion each year. Despite the fact that most people have heard of identity theft, a surprisingly large number fail to take these simple steps to help stamp-out identity fraud. Read the rest of this entry »

Are Insurers Really Cutting Payouts?

February 28th, 2013

There’s a growing body of evidence to suggest that insurance providers are getting stricter over paying out claims, but do the figures add-up?

According to figures from the British Insurance Brokers’ Association; 90% of brokers believe that insurance providers are getting stricter with payouts. And they are pinning the blame on the ongoing financial climate and the growing number of fraudulent insurance claims. Read the rest of this entry »