Treasury has published the final report of the Insurance Fraud Taskforce investigating the causes of fraudulent behaviour and recommending solutions to reduce the level of insurance fraud. The report makes recommendations to:

  • improve consumer trust by tackling the perception that insurance fraud is “fair game”;
  • improve cross-industry coordination on premeditated claims and toughen action against dishonest solicitors;
  • minimise opportunistic claims fraud by strengthening regulation of claims management companies, clamping down on nuisance callers that encourage fraudulent claims and tackling fraudulent claims for noise-induced hearing loss; and
  • address application fraud by improving the ability of aggregators to detect fraud at the point of quote.

(Source: Treasury Publishes Insurance Fraud Report)