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According to the Association of British Insurers (ABI), approximately 122,000 fraudulent claims were detected by insurers during 2009, worth a record £840 million. This represents a 14% rise on 2008.
The rise is likely to be due to a number of factors, in particular insurers becoming increasingly sophisticated at detecting fraud and an increase in [...]
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The practice of making an early settlement offer to a claimant is called ‘third party capture,’ and normally a tactic used when an insurer’s own policyholder is at fault in a car accident.
Under a new voluntary code of practice, introduced by the Association of British Insurers (ABI) those companies that sign up agree not to [...]
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The Chancellor said last week that the Financial Services Authority (FSA) will be scrapped by 2012 and its powers transferred to the Bank of England. A new Consumer Protection and Markets Authority and an Economic Crime Unit is to be set up to regulate financial services companies and prosecute serious economic crime.
The FSA’s Director of [...]
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415 views Newly appointed Chancellor George Osborne has confirmed that the Financial Services Authority (FSA) will “cease to exist in its current form”.
Speaking at the Mansion House he said that the current system of financial regulation would be abolished. He confirmed that the Bank of England would be given the role of regulating [...]
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