Insurance News Bites: Fraud, Broker Buys & More

GHOST BROKER GETS COMMUNITY SERVICE

Irish news media report that Vasile Braileanu (43) was ordered to carry out 240 hours of community service for defrauding a number of motor insurance companies of about €13,000. Braileanu pleaded guilty to 15 fraud-related offences, including dishonestly inducing insurance companies to give policies at a reduced premiums and making, using and possessing false documents such as No Claims Discount and Experienced Driver certificates.

Braileanu said he received about €400-€600 in payment for brokering each policy. In one example, he got a motor insurance premium from Allianz Insurance down from €1292 to €692 by submitting false documents, the court heard. More details on the case here. 

SEVENTEEN BUYS RYAN INSURANCE GROUP

Seventeen Group has acquired Ipswich based Ryan Insurance Group effective from 6th May2021 for an undisclosed sum. Ryan’s was originally formed in 1975 and is one of the leading regional brokers in the East of England. The business employs over 50 staff, is a UK Top 100 broker and handles over £12 million of Gross Written Premium. Two thirds of the business is commercial and one third private clients. Included within the commercial book is a specialist Hospitality account plus a dedicated SME unit.

Seventeen Group CEO Paul Anscombe comments:

“We are delighted with the acquisition of Ryan’s, a business we have known for a number of years, and are proud to welcome them into our Group. It is a high quality organisation with a great team and a strong focus on client service. It is also a company which takes its role within the broking community very seriously and actively works to raise professional standards and share good practice”.

25th October, 2020 – Two electric e-scooters waiting for a ride in the central Cheltenham, Gloucestershire

FIRST E-SCOOTER INJURY CASES APPEAR

The e-scooter trials are just beginning in the UK but the first injuries, allegedly caused by misuse of electric scooters on pavements, are starting to appear in the local press. The Birmingham Mail reports that a man suffered a leg injury after confronting two e-scooterists using the Voi platform, which is insured via Zego.

The report states that the pedestrain confronted the e-scooter riders, then one ran over his foot – at low speed – which caused some bleeding and a bruise. There is more backgrond on the incident here. Perhaps the answer will be to make riders agree to a disclaimer which states that they may be held personally liable for damages, if the e-scooter is not used according to the instructions, and that costs/damages may cause loss of assets or property?

IFB TEAMS UP WITH SHIFT TECH

The Insurance Fraud Bureau (IFB) recently announced a partnership with Shift Technology to build a powerful, new fraud detection system on behalf of the UK insurance sector.

Currently one insurance scam takes place each minute in the UK, devastating countless victims and costing the economy over £3 billion a year.

With insurance services becoming faster and increasingly digitised, so too are the tactics of fraudsters. To ensure the IFB remains cutting-edge in the fight against organised insurance fraud, it has partnered with Shift Technology to build a solution using AI. The new platform, which will be delivered in early 2022, will see the AI ‘learn and grow’ as it adapts to the evolving threat of organised insurance fraud networks, with the capability to alert fraud investigators to suspicious activity in real-time.

POLICE, CAMERA, ACTION

Pc Mohammed Yasin Mulla made false insurance claims of £10,000, after he said flying debris had cracked his car windscreen and caused his a bit of pain and injury, reports the Yorkshire Post. However, the rogue cop was busted by his own dashcam footage, which showed a piece of polystyrene flying towards his car, but missing it. It did not cause any damage at all.

His punishment? A misconduct hearing. Not instant dismissal and prosecution. Amazing.

Mind how you go out there…

About alastair walker 6124 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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