Insurance Fraud Task Force: The problem and the overall conclusions

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Insurance fraud costs the industry an estimated £3bn a year, plus another estimated £200m a year is spent combatting it. The government's Insurance Fraud Task Force has come up with some solutions.

The Government established the Insurance Fraud Taskforce in January 2015 on the basis of three major concerns: the cost for honest policyholders, the erosion of social cohesion and trust if fraud becomes widespread, and the diversion of the proceeds of fraud to other criminal activity.

This four page Thinkpiece breaks down the Taskforce’s 26 recommendations into four main areas:
• Policyholder understanding and education.
• The use and reliability of data.
• The role of regulators.
• Specific personal injury issues.