The Police unit will be funded by the insurance industry and operated by the City of London Police’s Economic Crime Directorate
Insurance fraud costs around £2 billion every year adding around £44 to policy holder’s premiums. The new task force will go live at the start of 2012 and will be focusing on tackling organised and opportunist fraudsters. The unit is built on a similar model successfully being used by the Banking industry to tackle Cheque and Card fraud.