Health Insurance Company faces fraud investigation

Wed, 14 Mar 2007

The in-administration private medical insurance provider Your Health Plus is now under investigation for fraud. Policyholders with the beleaguered health insurance company continue to face an uncertain future .

According to a report that has been submitted to Companies House by the insolvency company looking into the case, fraud may have occurred at Your Health Plus between 2005 and 2006. Furthermore, the company was apparently in breach of Financial Services Authority rules on how clients’ money is managed, and the way in which their insurance product was structured.

A spokesman for the FSA reportedly commented: "If the Financial Services Compensation Scheme can declare the company in default then there is hope for policyholders as they would be covered for claims up to the FSCS's limits." If the company is declared in default, the FSCS will pay out some measure of insurance claims .
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