Context
The Insurance Fraud Bureau (IFB) is warning of a rise in people added to the Insurance Fraud Register (IFR) as concerning new findings indicate more people than ever could chance fraud amid the cost-of-living crisis. The IFR, which is managed by IFB, is a national database of insurance fraudsters and anyone on it can be denied essential insurance services for five years.
Key points to note
- There has been a 17% increase in the number of people being added to Insurance Fraud Register (IFR).
- More than 5,000 people were added to the Insurance Fraud Register in the past 12 months.
- One in five 18-24 year olds and one in six 25-34 year olds, according to YouGov research commissioned by the Bureau, would ‘likely’ commit insurance fraud if struggling financially.
- The IFB is launching a ‘Don’t Chance Fraud’ campaign warning of the consequences of being included on the IFR.
Next actions
None – for information and awareness.