Comments on: The cost of insurance fraud: £2bn a year http://www.insurancedaily.co.uk/2010/01/23/the-cost-of-insurance-fraud-2bn-a-year/ Daily Insurance Industry News Tue, 27 Sep 2011 14:27:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dean Jacobs http://www.insurancedaily.co.uk/2010/01/23/the-cost-of-insurance-fraud-2bn-a-year/#comment-12495 Dean Jacobs Sun, 24 Jan 2010 16:52:07 +0000 http://www.insurancedaily.co.uk/?p=6211#comment-12495 Some would argue that these figures need to be put into the perspective of the sheer size of the total market. If that is done they actually indicate that fraud is relatively small in comparison and there is absolutely no evidence that the fraud figure would be any different if the current regulatory regime did not exist. There is NO evidence. However what is most concerning is the growing increase of mortgage Fraud. Undoubtedly this will ultimately mean that underwriters and insurers will have to insist that greater risk management steps are taken. Some would argue that these figures need to be put into the perspective of the sheer size of the total market. If that is done they actually indicate that fraud is relatively small in comparison and there is absolutely no evidence that the fraud figure would be any different if the current regulatory regime did not exist. There is NO evidence.

However what is most concerning is the growing increase of mortgage Fraud. Undoubtedly this will ultimately mean that underwriters and insurers will have to insist that greater risk management steps are taken.

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