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IFB welcomes Insurance Fraud Taskforce recommendations

18 January 2016

  • Recommendations made on how to tackle the problem of insurance fraud welcomed
  • IFB committed to work with relevant organisations in the fight against fraud

The Insurance Fraud Bureau (IFB) has welcomed the recommendations in the Insurance Fraud Taskforce report issued today.

The report, which sets out the final recommendations, recognises that insurance fraud is not a victimless crime and has a real impact on honest members of the public, not least by the estimated annual cost of over £3 billion. The IFB welcomes the interest from the government in reviewing and tackling this perception which impacts on society. Communicating clear messages to the public is a key factor in combatting this view and the IFB will continue to promote its' Cheatline enabling anyone to assist in the fight against fraud, by reporting their suspicions and having confidence that they will be acted upon.

Fraudsters will try and use every opportunity available to them to exploit a system that is designed to help honest people in their moment of need. Access to reliable and consistent data is one of the tools that can be used to fight back and sits at the heart of all the IFB’s work. The recommendations that ensure that the industry is striving to improve the data it collects and its subsequent use are wholly supported and welcomed.

The IFB welcomes the recognition of the complexities of tackling insurance fraud, in particular that it requires the commitment from a number of organisations beyond insurers. Ensuring that regulators have the right tools in their framework and resources to tackle those who try to abuse the system is also one of the recommendations which the IFB has been consistently calling for and welcomes.

Ben Fletcher, Director of the IFB said: “Everyone needs to play their part in the fight against fraud. The IFB works closely with a number of organisations to tackle fraud at both the claims and application stage, however it also appreciates that it requires a collaboration from a range of organisations from insurers and enforcement agencies, through to regulators and government.

“A comprehensive fraud strategy is in place for the industry and a number of organisations are already committed to tackling this problem, with many of the recommendations already being progressed. The Taskforce recommendations, alongside the agreement from the industry to implement the IFB strategy, are major steps forward in reinforcing the message that insurance fraud is not acceptable.”