Insurance & You

Tuesday, 26 June 2012

Insurance fraud - the facts

Bogus insurance claims in the UK rose almost 10% in 2010 from 2009 to an average £18m every week, according to the Association of British Insurers. Investigators uncovered 133,000 fraudulent claims, with about 66,000 of these related to home insurance.
Woman on telephone
Motor fraud was the next most common, with 40,000 cases uncovered. "Fraudsters continually look for new ways to con insurers, so we are upping our game," said Glen Marr director of the Insurance Fraud Bureau. 

Source: Insurance Times, July 2011. 12 in every 10,000 insurance applications and claims were found to be fraudulent during Q1 2011, according to the latest Experian Fraud Index. This represents an increase of almost 4% from Q4 2010 and 43% from Q1 2010.

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