ABI: Over £1m a day in false insurance claims discovered

Insurance companies are uncovering or preventing three times more fraudulent claims than in 2003, says the Association of British Insurers (ABI).

Over £480 million a year – or £1.3 million a day – in false claims have been discovered, reveals ABI research.

Household insurance made up over half of the fraudulent claims, with cheats damaging carpets on purpose and then reporting it as an accident.

Nick Starling, director of general insurance and health at the ABI said: “The industry is fighting back. Insurance cheats are more likely to be caught than ever before.”

He explained that people found guilty of making false house or car insurance claims will find it harder to get cover and could risk higher premiums.

Previous research by the ABI in 2003 revealed that 47 per cent of people would not rule out making false claims and seven per cent admitted to already having done so.

© Adfero Ltd

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