United King­dom

RISKAFRICA Magazine - - • AVCA -

UK Govern­ment and in­dus­try fail to reach flood in­sur­ance deal

The As­so­ci­a­tion of Bri­tish In­sur­ers (ABI) and the UK Govern­ment have failed to se­cure a new agree­ment over the in­sur­ance of homes and busi­nesses at high risk of flood­ing. The in­sur­ance in­dus­try and govern­ment have been locked in talks for months over the fu­ture of flood cover as the ex­ist­ing agree­ment runs out in June 2013. The cur­rent agree­ment obliges in­sur­ers to of­fer flood in­sur­ance as part of stan­dard poli­cies at rea­son­able rates, pro­vid­ing the govern­ment in­vests in flood de­fenses.

Mas­sive UK auto in­sur­ance scam un­cov­ered

The po­lice have linked 60 peo­ple with one of the big­gest fraud­u­lent auto in­sur­ance claim pro­grammes in the United King­dom. The scam was so ex­ten­sive that Durham County area pre­mi­ums were in­flated due to the in­creased risk pro­file of the area.

The in­ves­ti­ga­tion ex­am­ined 1 800 claims han­dled by two firms. Twohun­dred and sixty- one were flagged as sus­pi­cious, with sus­pi­cions of fictitious, staged and greatly ex­ag­ger­ated claim in­ci­dents. The in­ves­ti­ga­tion re­vealed £3 mil­lion (R41 mil­lion) in fraud­u­lent pay­outs.

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