- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Life insurance fraud minimal, says expert
Mon 10 Dec 2007 3pm
An expert from the insurance industry has said that fraudulent practice in the life insurance sector is relatively uncommon.Despite the high-profile case of John and Anne Darwin recently bringing life insurance fraud into the public eye, Jonathan French claimed that there are "very low levels" of criminal activity based around such products.
The spokesperson for the Association of British Insurers said that the Darwin case had arisen from "a very unusual set of circumstances" and that the industry has established procedures to "minimise" the risk of fraud.
"Insurance companies will carry out careful checks where it is appropriate to make sure fraudulent activity does not slip through the net," Mr French stated.
He also explained that insurance firms will usually pay out on life insurance policies when there is "sufficient and substantial evidence" that a person has passed away, even if there is no body or death certificate, as in the case of the Asian tsunami in 2004.
In a case that has fascinated the British public, John Darwin reported himself as a missing person in London on December 1st, having been presumed dead for five years. Mr Darwin and his wife Anne are now suspected of fraud after it emerged that a £25,000 life insurance policy was cashed in after his disappearance.
