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.”
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