Fraud: Seeking a knockout blow

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Fraud has become a daunting foe the insurance industry cannot overcome. Despite the sector's best efforts to tackle the problem, the statistics make grim reading.

According to the Association of British Insurers, the total value of detected general insurance fraud exceeded £1bn for the first time in 2012, while undetected fraud is still thought to be worth more than £2bn.

However, with the impact of the Jackson reforms, a renewed attempt to tackle opportunistic fraud and increasing calls to foster a more collaborative approach, there is optimism that the industry can begin to fight back. At a Post roundtable last month, in association with Hill Dickinson, members of the insurance and legal sectors discussed the industry's efforts.