Cutting edge

THREE PAIRS OF SCISSORS

The crackdown on 'crash for cash' scams by insurers has reaped rewards. Ana Paula Nacif reports on the need for the industry to step up a gear and keep on the cutting edge of the fight against fraud.

Insurers have been cracking down on 'crash for cash' scams, with a number of high-profile cases making the headlines over the past year. But with the number of fraudulent claims on the increase and

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.