There are some positives, with lockdown resulting in fewer accidents on our roads and burglaries in our homes, but tough economic times invariably mean an uptick in insurance fraud.
Alongside more opportunistic fraud, such as policyholders faking claims or exaggerating the nature of a loss, we might expect to see an increase in liability and casualty fraud as businesses come under greater stress.
There are also concerns about organised fraud, although the UK’s empty roads have made crash for cash scams much more difficult to stage. Unfortunately, there’s already evidence that the fraudsters are shifting their operations, with the latest scams, using hooks such as government payments and fines for breaking lockdown rules to exploit fears about Covid-19. There have also been reports of criminals knocking on doors with offers of help with shopping or prescriptions as a means to target the elderly and vulnerable.