Insurance industry thwarts £1.32bn of fraud in 2014
Dishonest motor insurance frauds were the most common.
Honest insurance customers were saved £1.32bn from frauds uncovered in 2014 according to figures released by the Association of British Insurers (ABI).
The organisation revealed the value of frauds discovered last year was double the cost of retail crime and added that insurers foiled 350 insurance frauds worth £3.6m every day which is a record high.
Overall in 2014 insurers detected 130,000 fraudulent claims which is up 9% on the previous year the ABI noted. It added the £1.32bn of fraud that
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