ABI boosts spending on fraud

clock

Extra detectives to be recruited to tackle insurance fraud in England and Wales.

The Association of British Insurers (ABI) has confirmed extra investment in the Insurance Fraud Enforcement Department (IFED) of the City of London Police Unit.

The organisation has committed to investing a further £11.7m over three years in the unit dedicated to tackling insurance fraud in England and Wales.

The funds will be used to expand the work of IFED with more detectives joining the 38-strong team.

The funding decision has come midway through IFED's third year in operation. Since inception it has made 430 arrests and brought to justice 223 insurance fraudsters by securing police cautions and court convictions.

City of London Police Commissioner, Adrian Leppard, said: "Since IFED's birth we have time and again delivered on our pledge to make England and Wales a more hostile environment to perpetrate insurance fraud.

"With every scam investigated, arrest made and conviction secured we have made it more difficult for fraudsters to operate and sent a strong message that insurance fraud is a crime and that there are serious consequences for those who commit it."

He added: "The decision by members of the ABI to extend and increase IFED's funding over the next three years provides further industry recognition that we have delivered both for the insurance industry and for the public."


More on Regulation

Tax concerns hit highest levels since 2017 as UK businesses forecast Budget linked price increases

Tax concerns hit highest levels since 2017 as UK businesses forecast Budget linked price increases

Significant concern for 63% of firms

Eve Maddock-Jones
clock 06 January 2025 • 3 min read
IPT receipts hit £1.2bn in November

IPT receipts hit £1.2bn in November

£6.65bn for the year

Cameron Roberts
clock 20 December 2024 • 2 min read
Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Firms using GDPR as scapegoat for Consumer Duty failures: MorganAsh

Risking regulatory action

Cameron Roberts
clock 17 December 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read