Insurance Fraud Enforcement Department (IFED)
Definition
A specialist unit within the City of London Police, funded by the UK insurance industry, that investigates insurance fraud including arson fraud, and serves as the primary law enforcement interface with insurer SIU teams in England and Wales.
Related terms
- Financial Distress Analysis
- A forensic accounting analytical stream that reconstructs the financial trajectory of an insured entity in the period before a fire, using audited...
- GAP Insurance
- Guaranteed Asset Protection insurance that covers the difference between a vehicle's current market value and the outstanding finance balance; a vehicle with...
- Inventory Replacement Arson
- A business arson pattern where the fire is set to trigger an insurance-funded replacement of ageing or obsolete equipment, rather than to...
- Lease Termination Arson
- A business arson pattern where a fire is set to render premises unusable, triggering a destruction or force majeure clause in a...
- National Insurance Crime Bureau (NICB)
- A US non-profit organisation funded by insurers that operates an intelligence portal for law enforcement and insurer data sharing on insurance fraud,...
- Over-Insurance
- A pre-fire red-flag indicator where the insured value of a property or business substantially exceeds its current market value or replacement cost,...
- Related-Party Analysis
- A forensic accounting investigation stream that traces whether assets declared destroyed in a fire reappeared at connected entities, or whether insurance proceeds...
- Special Investigation Unit (SIU)
- A dedicated anti-fraud team within an insurance company, required in the US by the Insurance Fraud Prevention Model Act, in the UK...
- Warehouse Clearance Arson
- A business arson pattern where a fire is set to destroy slow-moving, obsolete, or overstated inventory and collect the insured value of...
Explained in
- Insurance Fraud, Business Arson and Financial InvestigationA specialist unit within the City of London Police, funded by the UK insurance industry, that investigates insurance fraud including arson fraud, and serves as...