AM Online

New warning over cost of motor fraud

Motor fraud increased significantly over the second quarter of the year, according to Accident Exchange, which says it prevented more than 25 attempts through its asset protection unit.

The accident management company represents insurers, car manufacturers and dealers. Its team of former police officers and data investigators, aided by fraud detection and avoidance software, combine to identify criminal activity.

A spokesman said that in 92% of cases it has handled since April innocent third party insurers were unaware of a fraud until notified by its team.

Accident Exchanges says drivers who deliberately cause crashes to benefit from bogus insurance claims are a serious problem.

Premiums could rise 10% this year because of fraud. 

Financial fraud will be one of the issues covered at the AM Financial Management for Dealerships Conference on 18 November in Birmingham. We will be looking at the methods that can be used to combat problems with internal and external fraud.

For more information about the conference, contact Luke Clements on 01733 468325 or email luke.clements@bauermedia.co.uk

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