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Fraud Hits Record Level In 2011 – Fraud Rises 9% In 2011 Compared To 2010 But False Insurance Claims FallThe UK’s Economic Problems Have Contributed To Record Levels Of Fraud, According To The UK’s Fraud Prevention Service.

CIFAS, a not-for-profit membership association dedicated to fraud prevention, recored over 236,500 cases of frauds during 2011– the highest number ever recorded. …

Anti-Fraud Police Unit Makes Further Arrests – IFED Makes Its First Criminal Charges

The Insurance Fraud Enforcement Department (IFED) has made a series of arrests in its first fortnight of operation.

The insurer-funded anti-fraud police unit, …

Costa Concordia ‘Biggest Ever Marine Loss’ – Espirito Santo Analyst Puts Loss At Up To £653m

The Costa Concordia cruise ship disaster will cost insurers between $500m and $1bn (£326m- £653m), making it “the largest ever marine loss”, …

ABI Launches Flood Broadside At Ministers – Director-General Condemns Government’s “Frustrating” Flood Risk Policies

The director-general of the ABI, Otto Thorenson, has attacked the government’s refusal to subsidise flood cover in high risk properties.

Thorenson told The …

Swinton Directors Pay Boosted 1,000% Prior To Board Sackings

Swinton boosted directors pay 1,000% in 2009

Swintons director pay was boosted 1,000% for 2009, Insurance Times can reveal.

Directors pay shot up from …

Motor Insurers Could Break Even In 2011 – E&Y Predicts 20-Point Combined Ratio Decrease

Accounting firm Ernst & Young (E&Y) expects motor insurers to report much improved 2011 results after their “dismal performance” of the last …

Gary Lineker Ploughs Own Money Into Telematics – Ingenie Looking For Other Insurers To Join Ageas On Panel

Gary Lineker has invested in telematics company Ingenie, waiving the initial fee he was offered to represent the firm as an ambassador.

“He …

Swinton’s Executive Board Sacked Over Share Scheme Alarm

French parent Covea clear outs chief executive Peter Halpin and executive board over share dispute.

Swinton has had its entire executive board cleared …

Man Jailed After Surveillance Caught Him Working Out At The Gym Despite Trying To Claim £2.3m Insurance Payout

A man caught working out at the gym after attempting to pocket £2.3m insurance compensation for a debilitating injury has been jailed.

Michael …

Eurozone Sovereigns Face S&P Downgrade Threat

Rise in systemic stress prompts review of eurozone credit ratings

Standard & Poor’s (S&P) has put the long-term sovereign ratings of 15 eurozone …

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