ABI claims fraud costs insurers £5m a week
Insurers are paying out £5m per week on fraudulent motor claims according to the results of a study published by the Association of British Insurers (ABI).
Figures released by the ABI showed that last year insurers uncovered 24,000 fraudulent motor insurance claims worth £260 million, or £5 million every week. The number of dishonest motor claims detected by 70% over the last three years.
Nick Starling, the ABI’s director of general insurance and health, said: “Insurance fraud is no victimless crime. Honest motorists pay through higher insurance premiums – an extra £40 a year on average. This is why insurers are ramping up their crackdown to weed
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