John O’Roarke, Managing Director of General Insurance at LV=, has been appointed as the new Chairman of the Insurance Fraud Bureau (IFB).
O’Roarke, a current director of the IFB, was formally appointed as Chairman on 24 April and takes the reins from David Neave who stepped down as the Bureau’s Chairman after four years having left his role at Co-operative Insurance.
A chartered accountant, O’Roarke has 25 years’ experience in the insurance industry including spells at AIG, Churchill Insurance where he was Managing Director and RBS Insurance where he was Chief Operating Officer. He was a founder of ABC Insurance, which was acquired by LV= in 2006. LV= appointed O’Roarke as Managing Director of General Insurance in November 2011.
John O’Roarke, the new Chairman of the IFB, said: “Since launching in 2006, the IFB has established itself as a linchpin of the industry’s collective fight against fraud – a central hub for sharing critical fraud intelligence. Increasing investment in the IFB demonstrates the industry’s trust in the Bureau, which is projected to manage £160 million worth of organised fraud investigations by 2014.
“As Chairman of the Board, my priority is to support the executive team in achieving the targets set by the industry in our business strategy. Over the next year, we will continue to consult IFB customers and stakeholders with a view to shaping the future of the organisation.”
Nick Starling, Director of General Insurance at the Association of British Insurers (ABI), said: “There can be no let -up in the industry’s crackdown on fraud to protect honest customers. The IFB has a key role to play in investigating fraudulent activity and working with the police to stamp out fraud. John’s appointment, combined with his chairmanship of the ABI’s Financial Crime Committee, will give added impetus to this important work.”