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ABI working on anti-fraud network

The Association of British Insurers is developing a fraud detection system enabling insurers to access information on previous claims made under a particular name by linking up to other fraud detection networks.

The ABI hopes to bring together in one place information held by a number of databases holding claims and fraud information. The new system, due to be completed by the end of 2005 aims at reducing the estimated 1bn a year made by fraudsters in insurance scams.

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Barings brings long-short fund to UK

Barings Asset Management is launching a new long and short equities hedge fund, managed out of Tokyo. The hedge fund will launch this summer and will be managed by Joji Maki, with full details to be announced in four to six weeks. This will be Barings second hedge fund to be set up in Asia, […]

Rates on hold for another month

The Bank of England’s Monetary Policy Committee has decided to leave rates on hold for another month.The current interest rate is 4.75 per cent.The Derbyshire head of intermediary support Tony Capon: “The logic behind leaving rates on hold is that the MPC is seeing continued evidence of a slowdown in both industrial and retail economic […]

Pru could start claim fightback

The article on endowment-chasers in the April 28 issue of Money Marketing must have brought much satisfaction to honest and reputable IFAs who have had the misfortune to have dealt with claims’ companies.

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