From January, Detective Chief Inspector David Wood will be heading a team of 35 specialist fraud detectives and financial investigators that will target a crime valued at £2bn per year.
As reported by Mortgage Solutions sister title Cover in July, the unit will be funded by members of the Association of British Insurers at a cost of £3m per year over a three-year period.
The unit will retain operational independence to target the organised and opportunist fraudsters at the heart of insurance fraud.
DCI Wood’s team will collaborate with regional police forces and the insurance industry to prevent fraud and recover the proceeds of insurance fraud crime.
DCI Wood said: “This is a huge opportunity for the police and industry to work together in partnership to create a climate where fraudsters are left in no doubt that we are tackling them through a direct enforcement and liquidisation of criminal assets.
“I am looking forward to the challenge of leading the unit, ensuring it delivers value for money for the insurance industry while making the UK a more hostile place to operate for all those who commit insurance fraud.”
