Public reports of insurance fraud to the Insurance Fraud Bureau (IFB) topped 6000 in 2013, a 32 per cent rise on the previous high. In total there were 6060 reports made to either the IFB’s Cheatline or Crimestoppers at an average of one report every 90 minutes.
The IFB’s Cheatline, run by Crimestoppers, is a service that allows the public to anonymously report insurance fraud, by calling a freephone number or submitting an electronic report. As a crime-reporting line Crimestoppers sometimes receive insurance fraud alerts to their own hotline. According to the IFB this rise in reports suggests that more people than ever are taking a stand against insurance fraud.
Ben Fletcher, Director of the IFB said, “It is fantastic to see such an increase in fraud reports and it shows that the public shares our contempt for insurance fraud. Far from being a victimless crime, insurance fraud hits honest policyholders in the pocket and, in some cases, puts innocent road users in harm’s way. The Cheatline is a free anonymous service that helps us identify fraudsters and bring them to justice. Seeing the public make use of it is extremely gratifying.”
The bureau adds that information received from the public complements data from the insurance industry and other agencies that the IFB enjoys access to. In 2013 the IFB supported 145 police arrests forces across the country. The infor helps insurers identify fraudulent claims and avoid having to pay unnecessary compensation to fraudsters.
Fletcher adds: “If you know about insurance scams, or have suspicions about the activities of others just call the Cheatline on 0800 422 0421 or visit www.insurancefraudbureau.org and tell us what you know in complete confidence.”
Meanwhile Ageas Retail recently became the latest and 46th member of the Insurance Fraud Bureau. Ageas Retail, which consists of over 50s insurance specialist RIAS and Castle Cover, alongside Kwik Fit Financial Services and Ageas Insurance Solutions, is the UK’s fourth largest personal lines intermediary with over 1.8 million policy-holders.
The IFB recently said it’s investigating more than 60 organised fraud rings across the UK with scams valued in excess of £80m.
About the IFB:
The IFB launched in July 2006 to aid detection and prevention of organised, cross-industry fraud, supporting the wider Association of British Insurers (ABI) industry fraud strategy. The IFB co-ordinates the sector response to the identification of criminal fraud networks and works with law enforcement. Visit www.insurancefraudbureau.org
