Investigating the investigators

With nearly £1bn lost to fraudsters every year, the insurance industry is fighting back. But while the use of private investigators is one of the sector’s tools in the battle against fraud, this practice is currently the subject of further investigation by the Financial Conduct Authority.

The FCA’s investigation, which began in March, seeks to understand how insurers use private investigators and whether there are sufficient controls in place. Although it is in the process of gathering information from insurers, it has not ruled out using its regulatory clout if it finds evidence of bad practice.

Read more: http://www.postonline.co.uk/post/analysis/2278301/in-series-claims-investigating-the-investigators