ABI figures reveal 9% rise in fraud
The level of insurance fraud detected has more than doubled over the past five years, according to figures released by the Association of British Insurers (ABI).
The ABI found that in 2010 insurers uncovered 133,000 fraudulent insurance claims - 2,500 every week and the value of these claims was £919m, up 9% on the previous year.
The most common frauds involved home insurance with 66,000 bogus or exaggerated claims detected, followed by dishonest motor insurance frauds with 40,000 frauds uncovered.
The ABI said that motor frauds were the most costly, totalling £466m. The tradebody added that the value of savings from detected frauds represented 5% of all
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