Allianz Blocked Fraudsters From Stealing £65M In 2019

Law360, London (February 6, 2020, 3:41 PM GMT) -- Insurer Allianz said on Thursday that it has prevented fraudsters from cashing in on more than £65 million ($84 million) of fake claims in 2019 as the industry ramps up efforts to crack down on scams.

Allianz Insurance PLC said its fraud teams had intercepted £65.2 million of suspicious claims last year — up from £64.75 million in 2018.

James Burge, fraud manager at Allianz, told Law360 Thursday that the insurer continues to see a steady flow of "crash for cash" accidents and staged collisions, which helps explain why 44% of fake claims are motor-related. The insurer also sees a high...

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