Health Insurance - Miscellany - ABI supports police in crackdown on fraud

"The Association of British Insurers (ABI) is to fund a specialist police unit dedicated to combating insurance fraud, set up through a police-private sector partnership.
The unit, supported by the National Fraud Authority, and operated by the City of London Police’s Economic Crime Directorate, will be funded for the next three years by members of the ABI, and will be subject to an evaluation after two years.
It will provide additional operational capability to the Directorate, focusing solely on tackling insurance fraud, a crime valued at £2bn per year – which adds an extra £44 a year to each premium paid by consumers.
The unit, which aims to go live on 1 January 2012, will consist of 35 specialist fraud detectives and police support staff and will provide a dedicated response to threats posed to the insurance industry by both organised gangs and opportunist fraudsters."

Via Health Insurance - Miscellany - ABI supports police in crackdown on fraud:

Police unit to investigate insurance fraud

Image via Wikipedia "Insurers are to spend £8.2m funding a specialist police unit which will be dedicated to cracking down on the growing problem of insurance fraud which costs an estimated £2bn each year.
A new unit of 35 specialist fraud detectives and police support staff will be operated by the City of London police’s economic crime directorate and will focus on opportunist fraudsters as well as organised criminal gangs who stage so-called “cash for crash” car accidents."

Via Police unit to investigate insurance fraud - FT.com

UK insurers to fund police anti-fraud unit | Reuters

"The 35-strong force is tasked with tackling a crime that costs the insurance industry 2 billion pounds a year, adding 44 pounds to the average consumer's premium payments, according to the Association of British Insurers (ABI).
An ABI spokesman said figures for 2009, the most recent available, showed that between 4 and 5 percent of insurance claims were fraudulent, an increase on the previous year.
Insurance fraud typically rises during economic downturns as cash-strapped individuals and businesses seek to bolster their income by filing exaggerated or wholly fictitious claims.
Some of the recent increase in insurance fraud could also reflect improved detection rates, the ABI spokesman said.
The new police unit will form part of the economic crime directorate of the City of London police, which oversees the capital's financial district, and will be up and running in January 2012."

Via UK insurers to fund police anti-fraud unit | Reuters