Insurance-related frauds happen when false claims are made to insurance companies.

A false insurance claim could be when a person says they have lost more than they really have, or they make more than one claim for the same thing. Alternatively, a person might deliberately destroy the asset they are claiming insurance for.

Insurance fraud could also be when a person provides false information to an insurance company in order to get insurance cover on more favourable terms, or deliberately under-insuring to reduce the premium. This type of insurance fraud could include motor vehicle, commercial, household and other personal insurance claims.

Life assurance takeover is when someone’s life assurance is claimed by a fraudster. This could happen following account takeover fraud.

Insurance Broker Fraud

Insurance broker fraud is when a person takes out insurance cover from someone claiming to be an insurance broker.

When a claim is made or the insurance policy is checked, however, the victim discovers that they are not insured, or the cover they paid for is not what they have.