The Treasury has today published its progress report on the Insurance Fraud Taskforce, following its final report in January containing its 26 recommendations.
BLM has continued provide support for the IFT, bringing together the various stakeholders charged with implementation of the recommendations. The report published by the Treasury today evidences the further work undertaken and the significant progress that has been made.
The various stakeholders should be congratulated on those continuing efforts. Nevertheless, fraud is a constantly evolving challenge and the meetings hosted have assisted all parties in the fight against fraud. BLM will continue its support in co-ordinating meetings of IFT stakeholders and will collate reports on progress against recommendations later this year and next.
BLM partner and head of fraud, Sarah Hill said: "Fraud is a challenge that impacts on every policyholder. The epidemic of holiday sickness claims shows that fraud does evolve and constant vigilance is needed against that changing threat. The report highlights the need to consider the burden of proof that is being reviewed by the Solicitors’ Disciplinary Tribunal in protecting the consumer rather than the profession. We also await the Financial Guidance and Claims Bill which will transfer regulation of the Claims Management Sector to the FCA."
Please click here to read today's report >>