Insurance Fraud Bureau supports IFED’s ghost insurance broking campaign

Insurance-Fraud

The IFB has more than 50 ongoing investigations linked to ghost broking, each of which can involve 100s of fake or invalid insurance policies.

Since 2015, the number of new investigations into application fraud in general has increased by 67%.

Application fraud now accounts for 43% of all insurer requests into IFB.

The Insurance Fraud Bureau is supporting the City of London Police’s Insurance Fraud Enforcement Department’s national ghost broking awareness campaign.

The IFB currently has more than 50 ongoing investigations linked to ghost broking and each of these cases can involve 100s of fake or invalid insurance policies. Since 2015, the number of new investigations into application fraud in general has increased by 67% and application fraud now accounts for 43% of all insurer requests into IFB.

In support of the awareness campaign, Ben Fletcher, Director of the IFB said: “Ghost broking is a complex issue and one that we do not take lightly. Ghost brokers often target vulnerable people or communities, but we do also sometimes see cases where people have knowingly bought fraudulent or invalid policies in an effort to pinch the pennies.

It is essential that we raise awareness about the issue of ghost broking to stop innocent victims being targeted and to educate those who may consider buying insurance from a disreputable source. We work closely with police and insurers to track all those involved in ghost broking scams in order to bring about charges for those guilty parties.”