Axa urges brokers to support insurers in SME fraud fight
Insurance fraud among small business owners in Britain could be increasing the average claim value by £640, according to new research.
One in ten small business owners said it was acceptable to inflate the value of goods stolen, and almost one in five would consider it satisfactory to fake a whiplash claim or a minor accident at work, according to Axa’s survey of 503 business owners.
The research also revealed that small business owners would be 25% more likely to make a fraudulent claim on their business insurance rather than their personal insurance.
Tradesmen and retailers topped the list of sectors where people have
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