Economic hardship is a recognised catalyst for increased cases of insurance fraud. The 2007-09 recession saw fraudulent insurance claims rise 17% in one year. The UK is currently seeing its worst economic crisis in over 300 years; COVID has resulted in many households losing their income and businesses suffering financial losses.
The UK still has the 4th largest insurance and long-term savings industry in the world and the largest insurance industry within the European area, which means it is rich pickings for criminal gangs and opportunistic
individuals looking for loopholes to exploit.
Topics covered include:
- How the current cost of living crisis is impacting fraud
- The most common types of insurance fraud
- How can insurers mitigate fraud now and in the future?
