ABI issues insurance fraud warning
Personal insurance
16th April 2009
People who commit insurance fraud are doing themselves no favours, it has been claimed.
The warning comes following research by the Association of British Insurers (ABI) that found record levels of fraudulent insurance claims are being submitted.
According to the ABI, around 2,000 such applications are being made every week, worth around £14 million.
The most common dishonest claim in 2008 was for home insurance, with 55,000 false or exaggerated forms detected.
Nick Starling, director of general insurance and health at the ABI, said the only thing fraudsters are likely to gain is a criminal record.
"Cheating on your insurance really does not pay - you will get caught, future insurance will be more expensive and, along with credit, harder to obtain," he added.
With around 400 member companies, the ABI speaks on behalf of the UK's insurance industry and participates in debates on public policy issues.
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