Intermediaries hazy on insurance fraud
Only a third of intermediaries are “somewhat clear” on exactly what constitutes insurance fraud, according to new research from Legal & General.
In addition, the insurer’s FraudStoppers report suggests that over a half of intermediaries think people can get away with an inflated claim, while a quarter believe that house insurance claims are exaggerated by 25% or more.
Two thirds of brokers surveyed don’t believe that insurance fraud can be stamped out and almost three quarters feel that the recession has made the problem bigger.
Responding to the findings, L&G has developed support material for intermediaries, including an online video highlighting the ways in which brokers can help to tackle fraud, such as being aware of the sort of damage caused when slamming a laptop lid, or dropping an iPhone in water.
L&G’s general insurance head of fraud services, Steve Phillips, comments: “The direct contact and ongoing relationship that intermediaries have with their customers, means they are best placed to improve clients’ understanding of the implications of insurance fraud.”
He adds: “The information we now have available and on the special Fraudstoppers site will also help intermediaries to check and question anything that they don’t think looks right.”
Category: Companies News, Home Insurance News, Insurance News
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