April 10, 2013

A shocking new report from Experian, the data people, revealed this week that insurance fraud has literally doubled since 2006 to reach truly epidemic levels. As British society finally collapses under savage recessionary pressures, the insurance industry finds itself besieged by chancers and cheats as never before. Virtually everyone is at it.

Experian’s figures suggest that, for every 10,000 claims insurers receive, at least a dozen will be fraudulent. That’s over 0.1%. If anything, this figure probably underplays the true scale of the problem – if you consider that as many as 10,000 out of every 10,000 whiplash claims, for example, are suspected of being fraudulent.

Experian’s findings are likely to prompt urgent calls for Government action to free insurers once and for all from the necessity of paying claims, the vast majority of which are probably fraudulent anyway. This could potentially free up huge sums with which to reduce the premiums faced by decent upstanding policyholders who never make a claim.

Where has all this fraud sprung from? A lot of it (22% to be precise) has apparently seeped out of what Experian calls the ‘terraced melting pot’. This, presumably, is some kind of step-sided metaphorical vessel in which reside the very dregs of humanity. But those with “liberal opinions” are also fingered by the data people, who believe “well-educated” young professionals with such views account for 14% of first-party frauds.

Bankstone News has no idea what new-fangled permissive notions Experian grew up with, but in our day a good education did not involve being primed to pick the pockets of hard-pressed insurance firms with flagrantly fraudulent claims!


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