The Accessor Winter 2025 Web - Flipbook - Page 6
JOURNAL
NEWS
MARKED INCREASE IN SEVERITY OF
EV BATTERY FIRES IN THE MOTOR TRADE
Allianz UK is warning the motor trade
to be aware of the risks associated
with Electric Vehicle (EV) battery 昀椀res,
which have caused extensive damage
in recent cases and created unique
challenges.
Lithium-ion batteries, used in EVs,
have been identi昀椀ed as a potential
risk due to their thermal instability.
When damaged, mishandled, stored or
transported incorrectly, these batteries
DETECTED
FRAUD
IN 2024 HITS
£157M - 10%
HIGHER THAN
PREVIOUS
YEAR
Allianz UK uncovered 33,027 instances
of insurance fraud worth a total of
£157.24m in 2024 – equivalent to 90
frauds worth £430,000 a day, and up
10% on the £142.38m 昀椀gure for 2023.
Detection of application fraud
continued to grow, with trends
including increasing levels of policy
abuse, misrepresentation and ID theft,
including a high number of ghost
brokers, resulting in a year-on-year
increase in prevented fraud of 9%.
Additionally, there was an increase in
frauds involving moped and motorcycle
riders, often connected to the delivery
industry, trying to circumvent having
the proper level of cover in place.
6
can experience ‘thermal runaway’, a
rapid self-heating 昀椀re that can lead to
explosions which can happen days or
even weeks later.
While research, including 昀椀ndings from
Thatcham Research, indicates that EVs
are generally less likely to catch 昀椀re
compared to traditional combustion
engines, the intensity and severity of
these 昀椀res can be signi昀椀cantly greater.
This is due to the ferocity with which
lithium-ion batteries can burn, posing
unique challenges for motor traders,
particularly in relation to health and
safety.
This has been observed in several
high-pro昀椀le cases within the motor
trade sector. Additionally, some EV
batteries have increasingly been found
to have manufacturing defects, raising
the risk of combustion.
VOLVO MOVES ACCIDENT
MANAGEMENT PROVISION
FROM VIZION TO WRISK
AND ALLIANZ
Volvo Car UK has announced a
strategic change with its accident
management provision. Starting
in early April 2025, Volvo Car UK
will be launching a new service in
collaboration with Wrisk, supported
by roadside assistance partner,
Allianz, which brings an end to
Volvo’s relationship with White
Room Consortium (Vizion).
DAVID PUNTER
JOINS MODERN CLAIMS
AWARDS JUDGING PANEL
The IAEA’s David Punter
is delighted to have
been invited to judge
the Modern Claims
Awards 2025. Categories
include Insurer of the
Year, Insurtech of the
Year, Major Loss Award
and Fight Against Fraud.
The awards take place on
Wednesday 23 April in
Liverpool.
THE ASSESSORS JOURNAL | WINTER 2025 | www.iaea-online.org/news/the-assessor
