HMT Insurance Fraud Report

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Here is a link to the final report of the Government's Fraud Taskforce, chaired by David Hertzell.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/494105/PU1817_Insurance_Fraud_Taskforce.pdf

The CHO was a member of the Fraud Taskforce, and attended a number of sessions during 2015.

HM Treasury has published the Insurance Fraud Taskforce final report on 18 January. The taskforce maps the problem of insurance fraud, looks at what has been done to tackle it and makes a range of recommendations. There are 25 recommendations in total. 

Ministerial comment

Harriet Baldwin, Economic Secretary has commented on the release. She said: “A key part of our long-term plan is to make sure that the insurance industry works for consumers. That’s why we launched the Insurance Fraud Taskforce in January 2015 to tackle insurance fraud.

“After a year of valuable research and ground breaking dialogue, I welcome the recommendations that have been published today.

“These recommendations will galvanise our collective efforts to tackle insurance fraud, and will ultimately reduce costs for consumers.

Summarising the recommendations she said they:
· aim to improve consumer trust in the insurance sector and raise the public profile of insurance fraud as a criminal activity
· encourage greater use of data sharing and collaboration between the insurance sector and regulatory bodies to better prevent organised insurance fraud
· reflect and support the government’s intentions to clamp down on unnecessary whiplash claims, which are a major source of fraud and strengthen regulation of claims management companies.