Preparing for the failure to prevent fraud offence - a guide for the insurance market

Overview & Audience

Following the recent publication of Government guidance on reasonable fraud prevention procedures, the failure to prevent fraud offence will come into force on 1 September 2025.

Aimed at legal and compliance teams, in this practical session, financial crime specialists from the insurance and regulatory teams at Clyde & Co and Deloitte will look at what the offence will mean for the insurance market, including:

• Examples of what might fall within the definition of an associated person; 
• The extra-territorial reach of the offence;
• The types of activity that might be caught under the specific fraud offences set out in the 2024 Act; and 
• What amounts to reasonable fraud prevention procedures, with a focus on risk assessment and key steps to prepare for 1 September 2025. 

Speakers include Clyde & Co Partner Chris Hill, Legal Director Anousheh Bromfield, Deloitte's Forensic Director Peter Hawkins, and Partner Jules Colborne-Baber. We will also be joined by Emma Hardaker, Head of Compliance and Financial Crime at Lloyd's, to provide a Market Perspective.