Welcome to the third issue of Fraud AWARE. Twelve months post-Jackson, how is the industry handling and implementing the new rules? In this issue we discuss the delicate balance that is needed to fight fraud post-Jackson, specifically asking whether robust portal retention is inconsistent with effective fraud management. We also consider what the real meaning of ‘fundamental dishonesty’ is – are we any closer to understanding the term and how to tackle the issue in practice?
Following the successful event held in April, Fraser McAndry provides a summary of our credit hire fraud seminar. He also provides some food for thought when handling credit hire claims involving taxis and private hire vehicles, a subject often mentioned by our clients.
Also in this issue of Fraud AWARE, we learn about a surprising exemplary damages result where the judge used her own discretion to apply a wider interpretation of the assessment of exemplary damages by using the potential gain of the fraudsters as the starting point, rather than the actual losses incurred by the insurer.
Closing the issue, we finish with an article by Dene Rowe who peers into the world of fraud identification in this post-Jackson era and explains how the changes in this fast moving environment were the driving force behind Keoghs’ latest innovation, Advanced Data Analytics (ADA).
The service you deliver is integral to the success of your business. With the right technology, we can help you to heighten your customer experience, improve underwriting performance, and streamline processes.