ABI: fraudulent insurance claims topped £1bn again in 2024
The Association of British Insurers has revealed the value of detected fraudulent general insurance claims hit £1.16bn in 2024, up 2% from the previous year (2023: £1.1bn).
In its annual data round up, the trade body reported insurers uncovered over 98,400 fraud-related claims in 2024, a 12% rise from 81,100 in 2023.
Motor insurance has continued to be the area where insurers identified the most illicit claims, detecting 51,700 motor scams worth £576m. This is 5% more than in 2023.
The value of fraudulent claims covering domestic policies increased 9% (£36m) year-on-year; whilst the figure for commercial policies remained relatively stable, up £1.7m.
Insurers detected
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