ABI launches Insurance Fraud Register

| July 5, 2011 | 0 Comments

The Association of British Insurers (ABI) says the insurance industry’s determination to protect honest customers from insurance fraud has moved up a gear, with today’s announcement of the development of a national Insurance Fraud Register.

Funded by ABI members, the register will be an industry-owned database enabling insurers to share information on known cheats and identify anyone who fails to declare a previous fraudulent claim.

It should be fully operational by early next year and the ABI’s director of general insurance and health, Nick Starling, comments: “This initiative demonstrates how seriously insurers take reducing insurance fraud, and their determination to protect honest customers.”

According to ABI estimates, UK insurance fraud currently costs honest policyholders a collective £2 billion a year.

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Category: ABI News, Insurance News

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