COVID-19 is presenting many challenges for all in the insurance industry and this includes opportunist and organised fraud. Though claim volumes may decrease overall, fraudulent claims will undoubtedly increase and we are already seeing unusual spikes of certain claims, suggesting manufactured or staged losses.
In our 5th Technical Bulletin, we share information on:
- How fraud is a global problem
- The Fraud Risk Triangle
- Fraud claim increase expectations
- What our industry can do in response to growing fraud claims
McLarens UK and Ireland have established a specialist COVID-19 Complex Technical Team of senior adjusters and accountants to lead the claims arising from the Pandemic, providing technical guidance and ensuring consistency in approach.
All new losses to McLarens should continue to be instructed through the normal channels and for more information on fraud claims, please contact:
Tim Richardson ACII FCILA ACFS
Tel: +44 (0)7587 039 676
McLarens UK Technical Bulletin No. 5: COVID-19 - The Fraud Risk