Head of claims management regulation Kevin Rousell said: "The mass mis-selling of payment protection insurance has seen a surge in the number of companies operating in the financial claims management sector.
No other form of insurance fraud puts the public at risk of serious injury," said Tom Gardiner, head of claims fraud for Aviva's UK and Ireland general insurance business.
"Time and time again we see examples of consumers who have inadvertently agreed to a contract with a CMC without a written contract in place," said Kevin Rousell, head of claims management regulation at the MoJ.
Dr Sharmala Moodley, deputy head of their claims department, said that the rise was not surprising as claims against doctors shot up 20% in 2009 and against dentists 10%.
In telecommunications alone, which accounted for $209 billion of last year's bankrupt assets, claims represent a $20 billion market at face value, according to Bill Wong Bill Wong, the head of trade claims at New York-based Seaport Group.
Harald Wester, Fiat's German head of engineering, claims that the key has been to "trust your virtual world".
But it was as the head of the claims conference that he did his most notable work.
The report, by Mark Mansley, former Chase Manhattan analyst and head of Claros Consulting, claims ExxonMobil risks losing up to $50bn£34bnbn) worth of stock market value as a result of damage to its reputation and trade.
He quit that role in 2009 after the bank's former head of risk claimed he had been sacked by Crosby for trying to warn directors their strategy was too risky.
