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New register aims to stop insurance scammers claiming nearly 1 billion

Article by Simon Christopher
Posted: 20/9/2012 - Last updated: -
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Insurers have revealed that scammers make claims totalling almost a billion pounds a year. It's led to the launch of a register to try to hunt down serial fraudsters.

New figures from the ABI suggest insurers discovered an average of 2,670 fraudulent claims every week in 2011, up 5% on the previous year. Those making the fake claims are getting a little greedier too: the average attempted haul is £19 million a week, up 7% on 2010.

The figures suggests home insurance has the highest number of false claims, but that the attempted scams in motor insurance are for the highest amount of money. Of course, the stats only cover fraudulent claims that weren't successful.

Among the cheekiest attempts was a man who cut his thumb but submitted images of a much more gruesome injury -- pictures downloaded from the Internet. Meanwhile one family made more than 100 claims for storm damage, leading to a 15 month prison term.

As part of an attempt to combat the bogus claims, the industry is launching an Insurance Fraud Register in which rival insurers will share details of policies. People who've been caught with a bogus claim will find it much harder to get a new policy elsewhere.

PLEASE NOTE: News items are intended for information only and should not be relied upon when making business insurance decisions. Due to their nature, some of the information in news stories including any references to taxation, legislation, regulation, or other issues may no longer be current.

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