Loss assessor jailed:: a rare but welcome move
Saturday, 20 October, 2012 Leave a comment
If this were a sign of things to come, I suspect that there would be many within the ‘Claims Management’ industry who would be quaking in their boots! It has given me a novel idea for a new business though. How about I set up an operation that, for a nominal fee, properly reviews settled losses and takes a percentage where amounts above a certain threshold where internal fraud has been perpetrated!
I know exactly the type of claims and organisations I would start with because they aren’t all out of business and many of the ‘professionals’ who have knowingly or unwittingly played their part are easily recognised.
Still, grateful for small victories like these and the ongoing efforts of IFB…onward and upward!
A recent article regarding the failure of Merlin and some dubious industry practices has attracted an incredible amount of interest and comment. It led to an interview that appeared in the insurance press [Post Magazine].
Scott Clayton, Zurich claims fraud and investigations manager, said: “Our zero tolerance approach to fraud was vindicated when Bookey and three other policyholders were sentenced to prison.
“The judge described Bookey as the prime mover in this conspiracy and today’s sentencing reflects the seriousness of this crime, which has increased dramatically in recent years.
“Working closely with Merseyside Police’s burglary team and our appointed loss adjusters, further claims were identified with another insurer and two other individuals were charged.
“Bogus and inflated insurance claims cost over £2bn a year, adding 5% to premiums paid by honest policyholders.”
Richard Davies, head of fraud at Axa UK, said that the guilty verdicts demonstrated the industry collaborating on tackling fraud.
“We welcome the guilty verdicts handed down to Martin Bookey and his co-defendants which sends a clear message that, as an industry, we are not only prepared to fight fraud but will get results,” he added.
“The conviction of Martin Bookey is a clear message to professionals that there are serious consequences in supporting insurance fraud in any way.
“Unfortunately, this is not an isolated case but the message is clear: we will continue to work together as an industry to eradicate fraud and we are targeting those ‘professionals’ who facilitate much of it.”
Loss assessor jailed after Zurich uncovers claims ‘conspiracy’