Saturday, November 03, 2007
Association of British Insurers - News Releases: "Insurance companies are uncovering and preventing fraudulent insurance claims worth over £1 million every day according to latest research from the ABI (Association of British Insurers). The ABI’s latest research into general insurance fraud reveals that: - Insurers are uncovering and preventing fraudulent claims worth £480 million a year, or £1.3 million every day. This is three times the amount detected in 2003. - One in 11 claims - around one million - are in some way fraudulent. Of these 85% involved exaggerating the value of a genuine loss. - Nearly a half of all detected fraud was on household insurance. Typical scams exposed include deliberately damaging carpets then claiming the damage was caused accidentally."