Hiscox has become the latest member to join the Insurance Fraud Bureau (IFB), taking the organisation’s tally to six in 2018.
Last year, Premier Insurance also joined the IFB, along with XS Direct and BGL Group as broker members, and law firms Carpenters and Morris Orman Hearle as affiliates.
Hiscox has joined a increasing number of organisations across the insurance industry to take advantage of IFB membership, with benefits including access to a range of fraud intelligence as well as a team of dedicated counter-fraud professionals.
IFB members also collaborate to tackle fraud. Last year saw a number of successes, including significant prison sentences for two dangerous fraudsters embroiled in a multi-million pound crash for cash scam, as well as jail time for a pair of ghost brokers who operated out of a laundrette and supplied unregulated insurance to a local drug gang.
Ben Fletcher, director of the IFB, said: “Our members are fundamental to the success of the IFB, and it is encouraging to see the membership continuing to grow as cracking down on organised insurance fraud remains a common goal within the industry. We look forward to working with Hiscox, whose membership will no doubt be vital in helping to stop insurance fraudsters in their tracks.”