Insurers saved £48m by Keoghs
Keoghs LLP, the specialist insurance law firm, has helped prevent £48m being paid out by the country’s leading insurers on suspicious claims during the course of the last year.
The number stands a fifth larger than that of the previous year, a sign of Keoghs’ progress in the field as well as increasing insurance fraud.
The Fraud Ring team handle cases affecting multiple insurers and are dealing with two-fifths more cases than in 2008.
Counter-fraud strategy director James Heath has described the results as revealing the advantages of the firm’s intelligence-led approach to combating insurance fraud.
By resolving 84% of cases before they reach a trial Keoghs is able to reduce the costs involved for the insurer.
Of the cases that do go to trial more than 80% end up being won.
The news comes a day after Aviva (formerly Norwich Union) reported seeing a significant rise in the number of fraudulent claims submitted.
Category: Insurance News
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