June 25, 2009

Latest statistics from the ABI show fraudulent insurance claims on the rise as the recession starts to bite.

An estimated 107,000 false claims last year (worth £730 million) constituted a 30% increase on 2007.

Household insurance fraud was most prevalent by volume, with 50,000 false claims during 2008, but motor insurance claims came out top by value ‚ totalling £360 million.

But the ABI has a warning for anyone thinking of topping up their spending money with a dodgy claim. “Insurers,” their representative body claims “are intensifying their crackdown on insurance cheats and the fraud that adds an extra £40 a year to the average premium.”

All right, we wrote this in a hurry! To read a previous, much longer and more entertaining story on the same topic, you could always try clicking here.



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