Analysis

Covid-19 pandemic has created ‘an opportune market for ghost brokers’

By 2020-08-07T11:02:00

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Industry experts assemble for Insurance Times’s latest virtual Fraud Charter roundtable, identifying the key fraud trends that have emerged as a result of the coronavirus outbreak

The financial hardship resulting from the economic impact of the Covid-19 pandemic has created “an opportune market for ghost brokers” as potential policyholders seek discounts and deals to alleviate financial stress.

Speaking at this month’s virtual Fraud Charter event, held on 28 July 2020, Stephen Dalton, head of intelligence and investigations at the Insurance Fraud Bureau (IFB), explained: “As we’re returning to the roads now, we’re seeing an increasing level of ghost broker activity and clearly, as recession bites and people are looking to save money, it’s an opportune market for ghost brokers who can actively advertise their wares.”

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