Anorak | The £4m A Day Insurance Scam

The £4m A Day Insurance Scam

by | 10th, May 2007

fenderbender1.jpg ACCORDING to the Association of British Insurers, fraudulent insurance claims are costing the industry around £1.6billion a year £4million a day.

The ABI, in its survey, also revealed that one in ten UK adults has admitted to cheating on an insurance claim.

Apparently, even fraud such as ‘bumping up’ the price of a damaged item costs insurers over £800million a year while overall almost £40 is added to the average premium in order to cover the costs

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Posted: 10th, May 2007 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink