Macroeconomic issues affecting claims activity

Challenging macroeconomic conditions are causing a bump in
claims activity as insurers experience substantial problems with
increased fraud and product liability issues, according to law firm
BLM.
Delegates at BLM's casualty roundtable today (20 April) said
the poor economy presented an "ideal opportunity" for
fraudsters.
Liability claims fraud tripled between 2010 and 2014 to reach a
total of £343mn ($493.7mn) from 19,283 claims.
Attendees pointed to the effect on claims of increased debt