Incidents of so-called insurance "ghost broking" have increased by 600% in the past year, according to Synectics. The practice involves online insurance "brokers" sending out fraudulent policies and keep customer payments. Covea head of financial crime Steve Jackson said he was told that by a broker in what he labels a ‘large and growing problem’. In a statement on its website, Lloyd's said it was working with regulators "to address this issue as quickly as possible.
Incidents of so-called insurance "ghost broking" have increased by 600% in the past year, according to Synectics. The practice involves online insurance "brokers" sending out fraudulent policies and keep customer payments. In a statement on its website, Lloyd's said it was working with regulators "to address this issue as quickly as possible.