Published: 11/10/11
Legal & General is stepping up the fight against insurance fraud. Their campaign centres on the fact that the insurance industry is detecting over 2000 fraudulent claims each week, worth around £16 million and estimated to cost the industry around £1.9 billion a year.
Other interesting facts include:
- During 2009 the value of fraudulent claims detected rose by 14%
- 29% of Brits think it’s acceptable to exaggerate a home insurance claim
- 53% of consumers want the industry to be tougher on fraudsters
And one for the boys:
- Men are twice as likely as women to exaggerate a claim in order to get a new gadget.
So the message here boys is: stop throwing your toys out of the pram; you can’t have another! (apologies, Editor is female and couldn’t resist).
However, there is a serious note to this:
- Fraud amounts to a £44 increase for every household insurance policy holder.
It is not a victimless crime, we all pay.
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