A recent lunchtime talk at the Claremont Hotel, organised by the IOM Insurance and Financial Services Institute, explored the subject of fraudulent activity in times of recession.
Steve Jackson the National Fraud Controller for Zurich Group discussed 'Fraud in a Recession'.
Mr Jackson explained the impact of a recession, focusing on the dramatically increasing numbers of liability and motor claims reported since January 2009.
He then went on to describe the financial pressures of a recession on both business and individuals, and how this can lead to fraud.
Mr Jackson concluded by explaining Zurich's approach to fraud; some of the methods used to detect it; and the resultant savings to the insurance industry.
The session was very well-received and it is hoped to do a follow up next year.
Pictured: Steve Jackson with Sue Gee, President of the IOM Insurance and Financial Services Institute.
