Contact
Member Login
Find Insurance
  • Current Issues
  • About
    • About BIBA
    • History
    • Meet the team
    • Governance
    • Partners, Associates & Affiliates
    • Social Media
    • Women in Finance
    • Manifesto 2021
  • Members
    • Membership
    • Webinars
    • Insurance Brokers’ Good Practice Guide
    • Regional Committees
    • Broker Assess
    • BIBA Schemes & Facilities
    • Brokers Professional Indemnity Insurance
    • Claims Dispute Advocacy
    • Young Broker
    • Technical
    • Regulation
    • GDPR
  • Events
  • Conference
  • Latest
    • Regulation Updates
    • Technical Updates
    • Latest News
    • Press Releases
    • BIBA TV
    • Publications
    • Consultations
    • Blog
    • Members news
    • Webinar Recordings
    • Upcoming Webinars
  • Responsibility
    • Diversity & Inclusion
    • Community
    • Wellbeing
    • Careers
    • Environment
  • Brexit

Browse All

Current Issues
Accessing Insurance Regulation Broker Operational Issues Supporting Businesses Careers, Apprenticeships & Young Brokers Cyber Diversity and Inclusion Europe & EU Exit Flood Insurance Fraud Insurance Claims Innovation & InsurTech Motor Insurance Insurance Premium Tax Terrorism Why Use a Broker
About
About BIBA History Governance Partners, Associates & Affiliates Social Media
Members
Membership Update Details Insurance Brokers' Good Practice Guide Regional Committees Broker Assess BIBA Schemes & Facilities Young Broker Technical Regulation GDPR round up
Events
Conference
Latest
Press Releases Latest News BIBA TV Regulation Updates Technical Updates Consultations Blog Members News Webinars

Accessing Insurance

Regulation

Broker Operational Issues

Careers & Apprenticeships

Cyber

Diversity and Inclusion

Europe & EU Exit

Flood Insurance

Fraud

Insurance Claims

Innovation & InsurTech

Motor Insurance

Insurance Premium Tax

Why Use a Broker

View all BIBA campaigning issues
  • Member Login
Back to top
Find Insurance
  • Current Issues
    • Accessing Insurance
    • Regulation
    • Broker Operational Issues
    • Supporting Businesses
    • Careers, Apprenticeships & Young Brokers
    • Cyber
    • Diversity and Inclusion
    • Europe & EU Exit
    • Flood Insurance
    • Fraud
    • Insurance Claims
    • Innovation & InsurTech
    • Motor Insurance
    • Insurance Premium Tax
    • Terrorism
    • Why Use a Broker
  • About
    • About BIBA
    • History
    • Governance
    • Partners, Associates & Affiliates
    • Social Media
  • Members
    • Membership
    • Update Details
    • Insurance Brokers' Good Practice Guide
    • Regional Committees
    • Broker Assess
    • BIBA Schemes & Facilities
    • Young Broker
    • Technical
    • Regulation
    • GDPR round up
  • Events
  • Conference
  • Latest
    • Press Releases
    • Latest News
    • BIBA TV
    • Regulation Updates
    • Technical Updates
    • Consultations
    • Blog
    • Members News
    • Webinars

Fraud

Home / Current Issues / Fraud

The majority of insurance policyholders are honest but are paying towards the £1.3Bn cost of detected fraud. Despite the fact that over the last 15 years road traffic accidents have reduced by 39%, personal injury claims (largely whiplash) have increased 90%.

Therefore the Insurance Fraud Taskforce was established as an independent body by HM Treasury and the Ministry of Justice in order “to investigate the causes of fraudulent behaviour and recommend solutions to reduce the level of insurance fraud in order to ultimately lower costs and protect the interests of honest consumers”.

Their final report included 26 recommendations to tackle fraudulent activity which were all accepted by Government.

Recommendation 20 stated: The Government should establish a stronger regime for claims management companies (CMC) regulation and ensure that the regulator has adequate resources and powers to do its job effectively.

In particular the regulator should:

• effectively police the referral fee ban

• prevent the use of failed and restarted “phoenix” companies

• consider how to deal with those organisations providing claims management services outside the regulated sector

• liaise with the ICO16 regarding the abuse of data protection rules

• maintain a robust regime to ensure those regulated firms are run by fit and proper persons

In March 2016 the Chancellor announced in his budget that Government accepted the recommendations of the independent review by Carol Brady into the regulation of CMCs and Treasury confirmed that the FCA would be put in charge of the new regulatory regime.

However, there is still no legislative vehicle to action this change.

View BIBA’s 2020 Manifesto 

View BIBA’s new manifesto microsite

TRAVEL MEDICAL INSURANCE DIRECTORY

If you need travel insurance and have serious medical conditions find one of our specialist providers.

SEARCH NOW

Travel Insurance

Find Insurance

Whatever type of insurance you need to find, BIBA can connect you with a broker who can help. Please access the online search below or call our Find Insurance Service on 0370 950 1790.

Search now

Find Insurance Service

0370 950 1790

9:00AM - 5:30PM, Monday to Friday

© BIBA 2021

  • Terms & Conditions
  • Privacy Policy
  • Complaints
  • Accessibility
  • Downloads
  • Useful Links
  • Social Media
  • Contact Us
  • Site Map

Why Become a Member?

A range of member benefits and additional savings

See all member benefits here

If you don't already have your own log in please click Register and follow the process.

Members Login

Forgot password? | Register

This website uses cookies to ensure we give you the best experience. Accept More Information
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.