Cash struggles spark boom in underwriting fraud
As the credit crunch wrangles on, insurers are seeing evidence of increasing underwriting fraud, cos...
As the credit crunch wrangles on, insurers are seeing evidence of increasing underwriting fraud, costing honest motor insurance customers between £50 and £60 per policy.
In an attempt to slash the price of motor insurance premiums, people are declaring false information, perhaps unaware that their insurance may be invalid as a consequence.
Simon Warsop, director of motor pricing at Norwich Union, said: "Fortunately, the majority of customers are entirely honest and provide accurate, fully
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