Intro to the World of Credit Hire Fraud
Speaker: Fraser McAndry, Director of Credit Hire Fraud, Keoghs
Credit hire volumes and spend continue to greatly concern the motor insurance industry, with current industry estimates indicating an annual credit hire bill of circa £800m. Litigation rates in the arena remain steady and, Keoghs will deal with over 5,000 litigated credit hire claims and 42,000 pre-litigation payment packs which gives an unrivalled insight into CHO behaviours and tactics across the market and visibility in respect of fraudulent activity and those individuals and entities attempting to raise revenue through dishonest means.
Credit hire fraud remains hugely prevalent and there is currently no light at the end of the tunnel. Estimates indicate that 10% of the annual credit hire bill can be attributed to these fraudulent credit hire organisations (CHOs) and claims. This presentation will help explain current trends and methods that are being used to identify and investigate credit hire fraud.
Learning objectives
At the end of this event, the delegate will have an overview of the following:
• Credit hire fraud and credit hire fraud indicators
• Handling credit hire fraud claims
• Recent case studies and their outcome
CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.